Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2016 | Nov. 22, 2016 | Mar. 31, 2016 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | Capitol Federal Financial Inc | ||
Trading Symbol | cffn | ||
Entity Central Index Key | 1,490,906 | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Sep. 30, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 137,883,847 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 1,790 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
ASSETS: | ||
Cash and cash equivalents (includes interest-earning deposits of $267,829 and $764,816) | $ 281,764 | $ 772,632 |
Securities: | ||
Available-for-sale (AFS), at estimated fair value (amortized cost of $517,791 and $744,708) | 527,301 | 758,171 |
Held-to-maturity (HTM), at amortized cost (estimated fair value of $1,122,867 and $1,295,274) | 1,100,874 | 1,271,122 |
Loans receivable, net (allowance for credit losses (ACL) of $8,540 and $9,443) | 6,958,024 | 6,625,027 |
Federal Home Loan Bank Topeka (FHLB) stock, at cost | 109,970 | 150,543 |
Premises and equipment, net | 83,221 | 75,810 |
Income taxes receivable, net | 0 | 1,071 |
Other assets | 206,093 | 189,785 |
TOTAL ASSETS | 9,267,247 | 9,844,161 |
LIABILITIES: | ||
Deposits | 5,164,018 | 4,832,520 |
FHLB borrowings | 2,372,389 | 3,270,521 |
Repurchase agreements | 200,000 | 200,000 |
Advance payments by borrowers for taxes and insurance | 62,643 | 61,818 |
Income taxes payable, net | 310 | 0 |
Deferred income tax liabilities, net | 25,374 | 26,391 |
Accounts payable and accrued expenses | 49,549 | 36,685 |
Total liabilities | 7,874,283 | 8,427,935 |
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 1,400,000,000 shares authorized; 137,486,172 and 137,106,822 shares issued and outstanding as of September 30, 2016 and 2015, respectively | 1,375 | 1,371 |
Additional paid-in capital | 1,156,855 | 1,151,041 |
Unearned compensation, Employee Stock Ownership Plan (ESOP) | (39,647) | (41,299) |
Retained earnings | 268,466 | 296,739 |
Accumulated other comprehensive income (AOCI), net of tax | 5,915 | 8,374 |
Total stockholders' equity | 1,392,964 | 1,416,226 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 9,267,247 | $ 9,844,161 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Interest-earning deposits | $ 267,829 | $ 764,816 |
Available-for-sale securities, amortized cost | 517,791 | 744,708 |
Held-to-maturity securities, estimated fair value | 1,122,867 | 1,295,274 |
Loans receivable, allowance for credit losses | $ 8,540 | $ 9,443 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,400,000,000 | 1,400,000,000 |
Common stock, shares issued | 137,486,172 | 137,106,822 |
Common stock, shares outstanding | 137,486,172 | 137,106,822 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST AND DIVIDEND INCOME: | |||
Loans receivable | $ 243,311 | $ 235,500 | $ 229,944 |
Mortgage-backed securities (MBS) | 29,794 | 36,647 | 45,300 |
FHLB stock | 12,252 | 12,556 | 6,555 |
Cash and cash equivalents | 9,831 | 5,477 | 1,062 |
Investment securities | 5,925 | 7,182 | 7,385 |
Total interest and dividend income | 301,113 | 297,362 | 290,246 |
INTEREST EXPENSE: | |||
FHLB borrowings | 65,091 | 67,797 | 63,217 |
Deposits | 37,859 | 33,119 | 32,604 |
Repurchase agreements | 5,981 | 6,678 | 10,282 |
Total interest expense | 108,931 | 107,594 | 106,103 |
NET INTEREST INCOME | 192,182 | 189,768 | 184,143 |
PROVISION FOR CREDIT LOSSES | (750) | 771 | 1,409 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 192,932 | 188,997 | 182,734 |
NON-INTEREST INCOME: | |||
Retail fees and charges | 14,835 | 14,897 | 14,937 |
Income from bank-owned life insurance (BOLI) | 3,420 | 1,150 | 1,993 |
Other non-interest income | 5,057 | 5,093 | 6,025 |
Total non-interest income | 23,312 | 21,140 | 22,955 |
NON-INTEREST EXPENSE: | |||
Salaries and employee benefits | 42,378 | 43,309 | 43,757 |
Occupancy, net | 10,576 | 9,944 | 10,268 |
Information technology and communications | 10,540 | 10,360 | 9,429 |
Regulatory and outside services | 5,645 | 5,347 | 5,572 |
Deposit and loan transaction costs | 5,585 | 5,417 | 5,329 |
Federal insurance premium | 5,076 | 5,495 | 4,536 |
Advertising and promotional | 4,609 | 4,547 | 4,195 |
Low income housing partnerships | 3,872 | 4,572 | 2,416 |
Office supplies and related expense | 2,640 | 2,088 | 2,096 |
Other non-interest expense | 3,384 | 3,290 | 2,939 |
Total non-interest expense | 94,305 | 94,369 | 90,537 |
INCOME BEFORE INCOME TAX EXPENSE | 121,939 | 115,768 | 115,152 |
INCOME TAX EXPENSE | 38,445 | 37,675 | 37,458 |
NET INCOME | $ 83,494 | $ 78,093 | $ 77,694 |
Basic earnings per share (EPS) | $ 0.63 | $ 0.58 | $ 0.56 |
Diluted EPS | 0.63 | 0.58 | 0.56 |
Dividends declared per share | $ 0.84 | $ 0.84 | $ 0.98 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 83,494 | $ 78,093 | $ 77,694 |
Other comprehensive income (loss), net of tax: | |||
Changes in unrealized holding gains (losses) on AFS securities, net of taxes of $1,494, $(843), and $171 | (2,459) | 1,388 | (281) |
Comprehensive income | $ 81,035 | $ 79,481 | $ 77,413 |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Changes in net unrealized holding gains (losses) on AFS securities, deferred income taxes | $ 1,494 | $ (843) | $ 171 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Unearned Compensation ESOP [Member] | Retained Earnings [Member] | AOCI [Member] |
Balance at Sep. 30, 2013 | $ 1,632,126 | $ 1,478 | $ 1,235,781 | $ (44,603) | $ 432,203 | $ 7,267 |
Net income | 77,694 | 77,694 | ||||
Other comprehensive income/(loss), net of tax | (281) | (281) | ||||
ESOP activity, net | 2,014 | 362 | 1,652 | |||
Restricted stock activity, net | 127 | 127 | ||||
Stock-based compensation | 2,134 | 2,134 | ||||
Repurchase of common stock | (83,218) | (69) | (58,129) | (25,020) | ||
Stock options exercised | 458 | 1 | 457 | |||
Cash dividends to stockholders | (138,172) | (138,172) | ||||
Balance at Sep. 30, 2014 | 1,492,882 | 1,410 | 1,180,732 | (42,951) | 346,705 | 6,986 |
Net income | 78,093 | 78,093 | ||||
Other comprehensive income/(loss), net of tax | 1,388 | 1,388 | ||||
ESOP activity, net | 2,036 | 384 | 1,652 | |||
Restricted stock activity, net | 85 | 85 | ||||
Stock-based compensation | 2,086 | 2,086 | ||||
Repurchase of common stock | (46,449) | (39) | (32,513) | (13,897) | ||
Stock options exercised | 267 | 267 | ||||
Cash dividends to stockholders | (114,162) | (114,162) | ||||
Balance at Sep. 30, 2015 | 1,416,226 | 1,371 | 1,151,041 | (41,299) | 296,739 | 8,374 |
Net income | 83,494 | 83,494 | ||||
Other comprehensive income/(loss), net of tax | (2,459) | (2,459) | ||||
ESOP activity, net | 2,174 | 522 | 1,652 | |||
Restricted stock activity, net | 49 | 1 | 48 | |||
Stock-based compensation | 1,121 | 1,121 | ||||
Stock options exercised | 4,126 | 3 | 4,123 | |||
Cash dividends to stockholders | (111,767) | (111,767) | ||||
Balance at Sep. 30, 2016 | $ 1,392,964 | $ 1,375 | $ 1,156,855 | $ (39,647) | $ 268,466 | $ 5,915 |
Consolidated Statements Of Sto8
Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||||||||||
Cash dividends to stockholders | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.84 | $ 0.84 | $ 0.98 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 83,494 | $ 78,093 | $ 77,694 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
FHLB stock dividends | (12,252) | (12,556) | (6,555) |
Provision for credit losses | (750) | 771 | 1,409 |
Originations of loans receivable held-for-sale (LHFS) | 0 | 0 | (1,325) |
Proceeds from sales of LHFS | 0 | 0 | 1,998 |
Amortization and accretion of premiums and discounts on securities | 5,342 | 5,649 | 6,053 |
Depreciation and amortization of premises and equipment | 7,141 | 6,844 | 6,316 |
Amortization of deferred amounts related to FHLB advances, net | 1,868 | 4,196 | 6,139 |
Common stock committed to be released for allocation - ESOP | 2,174 | 2,036 | 2,014 |
Stock-based compensation | 1,121 | 2,086 | 2,134 |
Provision for deferred income taxes | 470 | 3,201 | 2,106 |
Changes in: | |||
Other assets, net | 1,807 | 3,878 | 1,606 |
Income taxes payable/receivable | 1,381 | (1,374) | 382 |
Accounts payable and accrued expenses | (6,840) | (6,215) | (8,184) |
Net cash provided by operating activities | 84,956 | 86,609 | 91,787 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of AFS securities | (99,927) | (149,937) | (120,817) |
Purchase of HTM securities | (144,392) | (54,133) | (168,830) |
Proceeds from calls, maturities and principal reductions of AFS securities | 326,814 | 234,794 | 349,210 |
Proceeds from calls, maturities and principal reductions of HTM securities | 309,328 | 330,054 | 328,433 |
Proceeds from the redemption of FHLB stock | 382,450 | 265,929 | 22,387 |
Purchase of FHLB stock | (329,625) | (190,862) | (100,356) |
Net increase in loans receivable | (336,056) | (398,307) | (280,105) |
Purchase of premises and equipment | (14,854) | (12,022) | (7,227) |
Proceeds from sale of other real estate owned (OREO) | 4,973 | 5,987 | 4,875 |
Purchase of BOLI | 0 | (50,000) | 0 |
Proceeds from BOLI death benefit | 783 | 0 | 405 |
Net cash provided by (used in) investing activities | 99,494 | (18,497) | 27,975 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Dividends paid | (111,767) | (114,162) | (138,172) |
Net change in deposits | 331,498 | 177,248 | 43,826 |
Proceeds from borrowings | 8,000,100 | 7,575,100 | 2,944,577 |
Repayments on borrowings | (8,900,100) | (7,695,100) | (2,194,577) |
Change in advance payments by borrowers for taxes and insurance | 825 | 3,713 | 713 |
Payment of FHLB prepayment penalties | 0 | (3,352) | 0 |
Repurchase of common stock | 0 | (50,034) | (79,633) |
Stock options exercised | 4,070 | 267 | 458 |
Excess tax benefit from stock options | 56 | 0 | 0 |
Net cash (used in) provided by financing activities | (675,318) | (106,320) | 577,192 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (490,868) | (38,208) | 696,954 |
CASH AND CASH EQUIVALENTS: | |||
Beginning of year | 772,632 | 810,840 | 113,886 |
End of year | 281,764 | 772,632 | 810,840 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Income tax payments | 36,483 | 35,849 | 34,969 |
Interest payments | $ 106,182 | $ 103,784 | $ 100,581 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business - Capitol Federal Financial, Inc. (the "Company") provides a full range of retail banking services through its wholly-owned subsidiary, Capitol Federal Savings Bank (the "Bank"), a federal savings bank, which has 37 traditional and 10 in-store banking offices serving primarily the metropolitan areas of Topeka, Wichita, Lawrence, Manhattan, Emporia and Salina, Kansas and portions of the metropolitan area of greater Kansas City. The Bank emphasizes mortgage lending, primarily originating and purchasing one- to four-family loans, and providing personal retail financial services. The Bank is subject to competition from other financial institutions and other companies that provide financial services. Basis of Presentation - The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, the Bank. The Bank has a wholly owned subsidiary, Capitol Funds, Inc. Capitol Funds, Inc. has a wholly-owned subsidiary, Capitol Federal Mortgage Reinsurance Company ("CFMRC"). All intercompany accounts and transactions have been eliminated in consolidation. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"), and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates and assumptions. The Bank has an expense sharing agreement with the Company that covers the reimbursement of certain expenses that are allocable to the Company. These expenses include compensation, rent for leased office space, and general overhead expenses. The Company, the Bank, Capitol Funds, Inc. and CFMRC have a tax allocation agreement. The Bank is the paying agent to the taxing authorities for the group for all periods presented. Each entity is liable for taxes as if separate tax returns were filed and reimburses the Bank for its pro rata share of the tax liability. If any entity has a tax benefit, the Bank reimburses the entity for its tax benefit. Cash and Cash Equivalents - Cash and cash equivalents include cash on hand and amounts due from banks. Regulations of the Board of Governors of the Federal Reserve System ("FRB") require federally chartered savings banks to maintain cash reserves against their transaction accounts. Required reserves must be maintained in the form of vault cash, an account at a Federal Reserve Bank, or a pass-through account as defined by the FRB. The amount of interest-earning deposits held at the Federal Reserve Bank of Kansas City as of September 30, 2016 and 2015 was $264.4 million and $762.0 million , respectively. The Bank is in compliance with the FRB requirements. For the years ended September 30, 2016 and 2015, the average daily balance of required reserves at the Federal Reserve Bank was $8.8 million and $8.7 million , respectively. Securities - Securities include MBS and agency debentures issued primarily by United States Government-Sponsored Enterprises ("GSE"), including Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and the Federal Home Loan Banks, United States Government agencies, including Government National Mortgage Association, and municipal bonds. Securities are classified as HTM, AFS, or trading based on management's intention for holding the securities on the date of purchase. Generally, classifications are made in response to liquidity needs, asset/liability management strategies, and the market interest rate environment at the time of purchase. Securities that management has the intent and ability to hold to maturity are classified as HTM and reported at amortized cost. Such securities are adjusted for the amortization of premiums and discounts which are recognized as adjustments to interest income over the life of the securities using the level-yield method. Securities that management may sell if necessary for liquidity or asset management purposes are classified as AFS and reported at fair value, with unrealized gains and losses reported as a component of AOCI within stockholders' equity, net of deferred income taxes. The amortization of premiums and discounts are recognized as adjustments to interest income over the life of the securities using the level-yield method. Gains or losses on the disposition of AFS securities are recognized using the specific identification method. The Company primarily uses prices obtained from third party pricing services to determine the fair value of securities. See additional discussion of fair value of AFS securities in "Note 13. Fair Value of Financial Instruments." Securities that are purchased and held principally for resale in the near future are classified as trading securities and are reported at fair value, with unrealized gains and losses included in non-interest income in the consolidated statements of income. During the fiscal years ended September 30, 2016 and 2015, neither the Company nor the Bank maintained a trading securities portfolio. Management monitors the securities portfolio for impairment on an ongoing basis and performs a formal review quarterly. The process involves monitoring market events and other items that could impact issuers. The evaluation includes, but is not limited to, such factors as: the nature of the investment, the length of time the security has had a fair value less than the amortized cost basis, the cause(s) and severity of the loss, expectation of an anticipated recovery period, recent events specific to the issuer or industry including the issuer's financial condition and current ability to make future payments in a timely manner, external credit ratings and recent downgrades in such ratings, management's intent to sell and whether it is more likely than not management would be required to sell prior to recovery for debt securities. Management determines whether other-than-temporary losses should be recognized for impaired securities by assessing all known facts and circumstances surrounding the securities. If management intends to sell an impaired security or if it is more likely than not that management will be required to sell an impaired security before recovery of its amortized cost basis, an other-than-temporary impairment has occurred and the difference between amortized cost and fair value will be recognized as a loss in earnings and the security will be written down to fair value. Loans Receivable - Loans receivable that management has the intent and ability to hold for the foreseeable future are carried at the amount of unpaid principal, net of ACL, undisbursed loan funds, unamortized premiums and discounts, and deferred loan origination fees and costs. Net loan origination fees and costs, and premiums and discounts are amortized as yield adjustments to interest income using the level-yield method. Interest on loans is credited to income as earned and accrued only if deemed collectible. Troubled debt restructurings ("TDRs") - For borrowers experiencing financial difficulties, the Bank may grant a concession to the borrower. Generally, the Bank grants a short-term payment concession to borrowers who are experiencing a temporary cash flow problem. The most frequently used concession is to reduce the monthly payment amount for a period of 6 to 12 months, often by requiring payments of only interest and escrow during this period, resulting in an extension of the maturity date of the loan. For more severe situations requiring long-term solutions, the Bank also offers interest rate reductions to currently-offered rates and the capitalization of delinquent interest and/or escrow resulting in an extension of the maturity date of the loan. The Bank does not forgive principal or interest nor does it commit to lend additional funds, except for situations generally involving the capitalization of delinquent interest and/or escrow not to exceed the original loan balance, to these borrowers. Endorsed loans are classified as TDRs when certain guidelines for soft credit scores and/or estimated loan-to-value ("LTV") ratios are not met. These guidelines are intended to identify changes in the borrower's credit condition since origination, signifying the borrower could be experiencing financial difficulties even though the borrower has not been delinquent on his/her contractual loan payment in the previous 12 months. The TDRs discussed above will be reported as such until paid-off, unless the loan has been restructured to an interest rate equal to or greater than the rate the Bank was willing to accept at the time of the restructuring for a new loan with comparable risk, and has performed under the new terms of the restructuring agreement for at least 12 consecutive months. Additionally, loans that have been discharged under Chapter 7 bankruptcy proceedings where the borrower has not reaffirmed the debt owed to the lender ("Chapter 7 loans") are reported as TDRs, regardless of their delinquency status, pursuant to regulatory reporting requirements. These loans will be reported as TDRs until the borrower has made 48 consecutive monthly loan payments after the Chapter 7 discharge date. Delinquent loans - A loan is considered delinquent when payment has not been received within 30 days of its contractual due date. Nonaccrual loans - The accrual of income on loans is discontinued when interest or principal payments are 90 days in arrears. We also report certain TDR loans as nonaccrual loans that are required to be reported as such pursuant to regulatory reporting requirements. Loans on which the accrual of income has been discontinued are designated as nonaccrual and outstanding interest previously credited beyond 90 days delinquent is reversed. A nonaccrual loan is returned to accrual status once the contractual payments have been made to bring the loan less than 90 days past due or, in the case of a TDR loan, the borrower has made the required consecutive loan payments. Impaired loans - A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. Interest income on impaired loans is recognized in the period collected unless the ultimate collection of principal is considered doubtful. The following types of loans are reported as impaired loans: all nonaccrual loans, loans classified as substandard, loans partially charged-off, Chapter 7 loans, and all TDRs except those that have been restructured to an interest rate equal to or greater than the rate the Bank was willing to accept at the time of the restructuring for a new loan with comparable risk, and has performed under the new terms of the restructuring agreement for at least 12 consecutive months. The majority of the Bank's impaired loans are related to one- to four-family properties. Impaired loans related to one- to four-family properties are individually evaluated for loss when the loan becomes 180 days delinquent or at any time management has knowledge of the existence of a potential loss to ensure that the carrying value of the loan is not in excess of the fair value of the collateral, less estimated selling costs. Allowance for Credit Losses - The ACL represents management's best estimate of the amount of inherent losses in the loan portfolio as of the balance sheet date. It involves a high degree of complexity and requires management to make difficult and subjective judgments and assumptions about highly uncertain matters. Management's methodology for assessing the appropriateness of the ACL consists of a formula analysis model, along with analyzing several other factors. The use of different judgments and assumptions could cause reported results to differ significantly. Management maintains the ACL through provisions for credit losses that are either charged or credited to income. One- to four-family loans, including home equity loans, are individually evaluated for loss when the loan is generally 180 days delinquent and any losses are charged-off. Losses are based on new collateral values obtained through appraisals, less estimated costs to sell. Anticipated private mortgage insurance proceeds are taken into consideration when calculating the loss amount. An updated appraisal is requested, at a minimum, every 12 months thereafter if the loan is 180 days or more delinquent or in foreclosure. If the Bank holds the first and second mortgage, both loans are combined when evaluating whether there is a potential loss on the loan. For commercial real estate loans, losses are charged-off when the collection of such amounts is determined to be unlikely. When a non-real estate secured loan, which includes consumer loans - other, is 120 days delinquent, any identified losses are charged-off. Charge-offs for any loan type may also occur at any time if the Bank has knowledge of the existence of a potential loss. Loans individually evaluated for loss are excluded from the formula analysis model. The primary risk characteristics inherent in the one- to four-family and consumer loan portfolios are a decline in economic conditions, elevated levels of unemployment or underemployment, and declines in residential real estate values. Any one or a combination of these events may adversely affect borrowers' ability to repay their loans, resulting in increased delinquencies, non-performing assets, loan losses, and future loan loss provisions. Although the commercial real estate loan portfolio is subject to the same risk of declines in economic conditions, the primary risk characteristics inherent in this portfolio include the ability of the borrower to sustain sufficient cash flows from leases and to control expenses to satisfy their contractual debt payments, and/or the ability to utilize personal and/or business resources to pay their contractual debt payments if the cash flows are not sufficient. Additionally, if the Bank were to repossess the secured collateral of a commercial real estate loan, the pool of potential buyers is typically limited more than that for a residential property. This increases the risk that the Bank could hold the property for an extended period of time and/or potentially be forced to sell at a discounted price, resulting in additional losses. Each quarter end, a formula analysis is prepared which segregates the loan portfolio into categories based on certain risk characteristics. The categories include the following: one- to four-family loans; commercial real estate loans; consumer home equity loans; and other consumer loans. Home equity loans with the same underlying collateral as a one- to four-family loan are combined with the one- to four-family loan in the formula analysis model to calculate a combined LTV ratio. The one- to four-family loan portfolio and related home equity loans are segregated into additional categories based on the following risk characteristics: originated, correspondent purchased, or bulk purchased; interest payments (fixed-rate and adjustable-rate); LTV ratios; borrower's credit scores; and certain geographic locations. The categories were derived by management based on reviewing the historical performance of the one- to four-family loan portfolio and taking into consideration current economic conditions, such as trends in residential real estate values in certain areas of the U.S. and unemployment rates. Historical loss factors are applied to each loan category in the formula analysis model. Each quarter end, management reviews historical losses over a look-back time period and utilizes the historical loss time periods believed to be the most appropriate considering the current economic conditions. The historical loss time period is then adjusted for a loss emergence time period, which represents the estimated time period from the date of a loss event to the date we recognize a charge-off/loss. Qualitative loss factors are utilized in the formula analysis model to reflect risks inherent in each loan category that are not captured by the historical loss factors. The qualitative loss factors for one- to four-family and consumer loan portfolios take into consideration such items as: unemployment rate trends, residential real estate value trends, credit score trends, delinquent loan trends, and industry and peer charge-off information. The qualitative loss factors for the commercial real estate loan portfolio take into consideration the composition of the portfolio along with industry and peer charge-off information. As loans are classified or become delinquent, the qualitative loss factors increase for each respective loan category. The qualitative loss factors were derived by management based on a review of the historical performance of the respective loan portfolios and industry and peer information for those loan portfolios with no or limited historical loss experience, along with consideration of current economic conditions and the likely impact such conditions might have to the performance of the loan portfolio. Management utilizes the formula analysis model, along with considering several other data elements when evaluating the adequacy of the ACL. Such data elements include the trend and composition of delinquent loans, trends in foreclosed property and short sale transactions and charge-off activity, the current status and trends of local and national employment levels, trends and current conditions in the real estate and housing markets, loan portfolio growth and concentrations, industry and peer charge-off information, and certain ACL ratios such as ACL to loans receivable, net and annualized historical losses to ACL. Since the Bank's loan portfolio is primarily concentrated in one- to four-family real estate, management monitors residential real estate market value trends in the Bank's local market areas and geographic sections of the U.S. by reference to various industry and market reports, economic releases and surveys, and management's general and specific knowledge of the real estate markets in which the Bank lends, in order to determine what impact, if any, such trends may have on the level of ACL. Reviewing these data elements assists management in evaluating the overall credit quality of the loan portfolio and the reasonableness of the ACL on an ongoing basis, and whether changes need to be made to the Bank's ACL methodology. Management seeks to apply the ACL methodology in a consistent manner; however, the methodology can be modified in response to changing conditions. Although management believes the ACL was at a level adequate to absorb inherent losses in the loan portfolio at September 30, 2016, the level of the ACL remains an estimate that is subject to significant judgment and short-term changes. Federal Home Loan Bank Stock - As a member of FHLB Topeka, the Bank is required to acquire and hold shares of FHLB stock. The Bank's holding requirement varies based on the Bank's activities, primarily the Bank's outstanding borrowings, with FHLB. FHLB stock is carried at cost and is considered a restricted asset because it cannot be pledged as collateral or bought or sold on the open market and it also has certain redemption restrictions. Management conducts a quarterly evaluation to determine if any FHLB stock impairment exists. The quarterly impairment evaluation focuses primarily on the capital adequacy and liquidity of FHLB, while also considering the impact that legislative and regulatory developments may have on FHLB. Stock and cash dividends received on FHLB stock are reflected as dividend income in the consolidated statements of income. Premises and Equipment - Land is carried at cost. Buildings, leasehold improvements, and furniture, fixtures and equipment are carried at cost less accumulated depreciation and leasehold amortization. Buildings, furniture, fixtures and equipment are depreciated over their estimated useful lives using the straight-line method. Buildings have an estimated useful life of 39 years. Structural components of the buildings generally have an estimated life of 15 years. Furniture, fixtures and equipment have an estimated useful life of three to seven years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the respective leases, which is generally three to 15 years. The costs for major improvements and renovations are capitalized, while maintenance, repairs and minor improvements are charged to operating expenses as incurred. Gains and losses on dispositions are recorded as non-interest income or non-interest expense as incurred. Income Taxes - The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Deferred income tax expense (benefit) represents the change in deferred income tax assets and liabilities excluding the tax effects of the change in net unrealized gain (loss) on AFS securities and changes in the market value of restricted stock between the grant date and vesting date. Income tax related penalties and interest are included in income tax expense in the consolidated statements of income. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Certain tax benefits attributable to stock options and restricted stock are credited to additional paid-in capital. To the extent that management considers it more likely than not that a deferred tax asset will not be recovered, a valuation allowance is recorded. All positive and negative evidence is reviewed in determining how much of a valuation allowance is recognized on a quarterly basis. Certain accounting literature prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of an uncertain tax position taken, or expected to be taken, in a tax return. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense in the consolidated statements of income. Accrued interest and penalties related to unrecognized tax benefits are included within the related tax liabilities line in the consolidated balance sheet. Employee Stock Ownership Plan - The funds borrowed by the ESOP from the Company to purchase the Company's common stock are being repaid from dividends paid on unallocated ESOP shares and, if necessary, contributions by the Bank. The shares pledged as collateral are reported as a reduction of stockholders' equity at cost. As ESOP shares are committed to be released from collateral each quarter, the Company records compensation expense based on the average market price of the Company's stock during the quarter. Additionally, the shares become outstanding for EPS computations once they are committed to be released. The eligibility criteria for participation in the Company's ESOP is a minimum of one year of service, at least age 21 , and at least 1,000 hours of employment in each plan year. Stock-based Compensation - The Company has share-based plans under which stock options and restricted stock awards have been granted. Compensation expense is recognized over the service period of the share-based payment award. The Company utilizes a fair-value-based measurement method in accounting for the share-based payment transactions with employees, except for equity instruments held by the ESOP. The Company applies the modified prospective method in which compensation cost is recognized over the service period for all awards granted. Borrowed Funds - The Bank has entered into repurchase agreements, which are sales of securities under agreements to repurchase, with approved counterparties. These agreements are recorded as financing transactions, and thereby reported as liabilities on the consolidated balance sheet, as the Bank maintains effective control over the transferred securities and the securities continue to be carried in the Bank's securities portfolio. The Bank has obtained borrowings from FHLB in the form of advances and a line of credit. Total FHLB borrowings are secured by certain qualifying loans pursuant to a blanket collateral agreement with FHLB and certain securities, as necessary. Additionally, the Bank is authorized to borrow from the Federal Reserve Bank's "discount window." Segment Information - As a community-oriented financial institution, substantially all of the Bank's operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of these community banking operations, which constitute the Company's only operating segment for financial reporting purposes. Low Income Housing Partnerships - As part of the Bank's community reinvestment initiatives, the Bank invests in affordable housing limited partnerships ("low income housing partnerships") that make equity investments in affordable housing properties. The Bank is a limited partner in each partnership in which it invests. A separate, unrelated third party is the general partner. The Bank receives affordable housing tax credits and other tax benefits for these investments. Two of the Bank's officers are involved in the operational management of the low income housing partnership investment group. The Bank accounts for substantially all of its investments in these partnerships using the equity method of accounting. See "Note 6. Low Income Housing Partnerships" for additional information. Earnings Per Share - Basic EPS is computed by dividing income available to common stockholders by the weighted average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock (such as stock options) were exercised or resulted in the issuance of common stock. These potentially dilutive shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. Shares issued and shares reacquired during any period are weighted for the portion of the period that they were outstanding. In computing both basic and diluted EPS, the weighted average number of common shares outstanding includes the ESOP shares previously allocated to participants and shares committed to be released for allocation to participants and restricted stock shares which have vested or have been allocated to participants. ESOP shares that have not been committed to be released are excluded from the computation of basic and diluted EPS. Unvested restricted stock awards contain nonforfeitable rights to dividends and are treated as participating securities in the computation of EPS pursuant to the two-class method. Recent Accounting Pronouncements - In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers . The ASU, as amended, clarifies principles for recognizing revenue and provides a common revenue standard for GAAP and International Financial Reporting Standards. Additionally, the ASU provides implementation guidance on several topics and requires entities to disclose both quantitative and qualitative information regarding contracts with customers. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within that reporting period, which is October 1, 2018 for the Company. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016. The Company has not yet completed its evaluation of ASU 2014-09. In January 2016, the FASB issued ASU 2016-01, Financial Instruments, Recognition and Measurement of Financial Assets and Liabilities . The ASU supersedes certain accounting guidance related to equity securities with readily determinable fair values and the related impairment assessment. An entity's equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this ASU. The ASU requires public business entities to utilize the exit price notation in determining fair value for financial instruments measured at amortized cost on the balance sheet. The ASU requires additional reporting in other comprehensive income for financial liabilities measured at fair value in accordance with the fair value option. The ASU also requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balances or in the notes to the financial statements. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods with those fiscal years, which is October 1, 2018 for the Company. Early adoption is not permitted except in certain circumstances. The Company has not yet completed its evaluation of ASU 2016-01. In February 2016, the FASB issued ASU 2016-02, Leases . The ASU amends lease accounting guidance by requiring that lessees recognize the assets and liabilities arising from leases on the balance sheet. Additionally, the ASU requires entities to disclose both quantitative and qualitative information regarding their leasing activities. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, which is October 1, 2019 for the Company. Early adoption is permitted. The Company has not yet completed its evaluation of ASU 2016-02. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting . The ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, along with simplifying the classification in the statement of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods, which is October 1, 2017 for the Company. The Company has not yet completed its evaluation of ASU 2016-09. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . The ASU replaces the incurred loss impairment methodology in current GAAP, which requires credit losses to be recognized when it is probable that a loss has incurred, with a new impairment methodology. The new impairment methodology requires an entity to measure, at each reporting date, the expected credit losses of financial assets not measured at fair value, such as loans, HTM debt securities, and loan commitments, over their contractual lives. Under the new impairment methodology, expected credit losses will be measured at each reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Additionally, the ASU amends the current credit loss measurements for AFS debt securities. Credit losses related to AFS debt securities will be recorded through the ACL rather than as a direct write-down as per current GAAP. The ASU also requires enhanced disclosures related to credit quality and significant estimates and judgments used by management when estimating credit losses. The ASU is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods, which is October 1, 2020 for the Company. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has not yet completed its evaluation of ASU 2016-13. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 2. EARNINGS PER SHARE Shares acquired by the ESOP are not considered in the basic average shares outstanding until the shares are committed for allocation or vested to an employee's individual account. Unvested shares awarded pursuant to the Company's restricted stock benefit plans are treated as participating securities in the computation of EPS pursuant to the two-class method as they contain nonforfeitable rights to dividends. The two-class method is an earnings allocation that determines EPS for each class of common stock and participating security. For the Year Ended September 30, 2016 2015 2014 (Dollars in thousands, except per share amounts) Net income $ 83,494 $ 78,093 $ 77,694 Income allocated to participating securities (66 ) (116 ) (176 ) Net income available to common stockholders $ 83,428 $ 77,977 $ 77,518 Average common shares outstanding 132,982,815 135,321,235 139,377,615 Average committed ESOP shares outstanding 62,400 62,458 62,458 Total basic average common shares outstanding 133,045,215 135,383,693 139,440,073 Effect of dilutive stock options 131,161 24,810 1,891 Total diluted average common shares outstanding 133,176,376 135,408,503 139,441,964 Net EPS: Basic $ 0.63 $ 0.58 $ 0.56 Diluted $ 0.63 $ 0.58 $ 0.56 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 886,417 1,248,744 2,060,748 |
Securities
Securities | 12 Months Ended |
Sep. 30, 2016 | |
Marketable Securities [Abstract] | |
Securities | 3. SECURITIES The following tables reflect the amortized cost, estimated fair value, and gross unrealized gains and losses of AFS and HTM securities at the dates presented. The majority of the MBS and investment securities portfolios are composed of securities issued by GSEs. September 30, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 346,226 $ 815 $ 3 $ 347,038 MBS 169,442 9,069 4 178,507 Trust preferred securities 2,123 — 367 1,756 $ 517,791 $ 9,884 $ 374 $ 527,301 HTM: MBS $ 1,067,571 $ 22,862 $ 1,219 $ 1,089,214 Municipal bonds 33,303 357 7 33,653 $ 1,100,874 $ 23,219 $ 1,226 $ 1,122,867 September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 525,376 $ 1,304 $ 60 $ 526,620 MBS 217,006 12,489 4 229,491 Trust preferred securities 2,186 — 270 1,916 Municipal bonds 140 4 — 144 $ 744,708 $ 13,797 $ 334 $ 758,171 HTM: MBS $ 1,233,048 $ 27,325 $ 3,590 $ 1,256,783 Municipal bonds 38,074 437 20 38,491 $ 1,271,122 $ 27,762 $ 3,610 $ 1,295,274 The following tables summarize the estimated fair value and gross unrealized losses of those securities on which an unrealized loss at the dates presented was reported and the continuous unrealized loss position for less than 12 months and equal to or greater than 12 months as of the dates presented. September 30, 2016 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: GSE debentures $ 24,997 $ 3 $ — $ — MBS — — 654 4 Trust preferred securities — — 1,756 367 $ 24,997 $ 3 $ 2,410 $ 371 HTM: MBS $ 147,930 $ 538 $ 66,646 $ 681 Municipal bonds 4,771 6 391 1 $ 152,701 $ 544 $ 67,037 $ 682 September 30, 2015 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: GSE debentures $ 39,135 $ 15 $ 49,955 $ 45 MBS — — 687 4 Trust preferred securities — — 1,916 270 $ 39,135 $ 15 $ 52,558 $ 319 HTM: MBS $ 38,604 $ 134 $ 302,158 $ 3,456 Municipal bonds 3,292 12 1,128 8 $ 41,896 $ 146 $ 303,286 $ 3,464 The unrealized losses at September 30, 2016 and 2015 were primarily a result of an increase in market yields from the time the securities were purchased. In general, as market yields rise, the fair value of securities will decrease; as market yields fall, the fair value of securities will increase. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, these securities have not been classified as other-than-temporarily impaired. The impairment is also considered temporary because scheduled coupon payments have been made, it is anticipated that the entire principal balance will be collected as scheduled, and management neither intends to sell the securities, nor is it more likely than not that the Company will be required to sell the securities before the recovery of the remaining amortized cost amount, which could be at maturity. As a result of the analysis, management has concluded that no other-than-temporary impairments existed at September 30, 2016 or 2015. See "Note 1 - Summary of Significant Accounting Policies - Securities" for additional information regarding our impairment review and classification process for securities. The amortized cost and estimated fair value of debt securities as of September 30, 2016, by contractual maturity, are shown below. Actual principal repayments may differ from contractual maturities due to prepayment or early call privileges by the issuer. In the case of MBS, borrowers on the underlying loans generally have the right to prepay their loans without prepayment penalty. For this reason, MBS are not included in the maturity categories. AFS HTM Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) One year or less $ 25,040 $ 25,081 $ 5,196 $ 5,217 One year through five years 321,186 321,957 22,152 22,346 Five years through ten years — — 5,955 6,090 Ten years and thereafter 2,123 1,756 — — 348,349 348,794 33,303 33,653 MBS 169,442 178,507 1,067,571 1,089,214 $ 517,791 $ 527,301 $ 1,100,874 $ 1,122,867 The following table presents the taxable and non-taxable components of interest income on investment securities for the periods presented. For the Year Ended September 30, 2016 2015 2014 (Dollars in thousands) Taxable $ 5,255 $ 6,431 $ 6,440 Non-taxable 670 751 945 $ 5,925 $ 7,182 $ 7,385 The following table summarizes the carrying value of securities pledged as collateral for the obligations indicated below as of the dates presented. September 30, 2016 2015 (Dollars in thousands) Public unit deposits $ 419,282 $ 343,385 Repurchase agreements 217,374 218,832 Federal Reserve Bank 15,938 20,600 FHLB borrowings — 216,607 $ 652,594 $ 799,424 All dispositions of securities during fiscal years 2016, 2015, and 2014 were the result of principal repayments, calls, or maturities. |
Loans Receivable And Allowance
Loans Receivable And Allowance For Credit Losses | 12 Months Ended |
Sep. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans Receivable And Allowance For Credit Losses | 4. LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES Loans receivable, net at September 30, 2016 and 2015 is summarized as follows: 2016 2015 (Dollars in thousands) Real estate loans: One- to four-family: Originated $ 6,211,687 $ 5,856,634 Purchased 416,653 485,682 Construction 39,430 29,552 Total 6,667,770 6,371,868 Commercial: Permanent 110,768 109,314 Construction 43,375 11,523 Total 154,143 120,837 Total real estate loans 6,821,913 6,492,705 Consumer loans: Home equity 123,345 125,844 Other 4,264 4,179 Total consumer loans 127,609 130,023 Total loans receivable 6,949,522 6,622,728 Less: ACL 8,540 9,443 Discounts/unearned loan fees 24,933 24,213 Premiums/deferred costs (41,975 ) (35,955 ) $ 6,958,024 $ 6,625,027 As of September 30, 2016 and 2015, the Bank serviced loans for others aggregating approximately $120.0 million and $153.0 million , respectively. Such loans are not included in the accompanying consolidated balance sheets. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and foreclosure processing. Loan servicing income includes servicing fees withheld from investors and certain charges collected from borrowers, such as late payment fees. The Bank held borrowers' escrow balances on loans serviced for others of $2.4 million and $2.9 million as of September 30, 2016 and 2015, respectively. Lending Practices and Underwriting Standards - Originating and purchasing one- to four-family loans is the Bank's primary lending business, resulting in a loan concentration in residential first mortgage loans. The Bank purchases one- to four-family loans, on a loan-by-loan basis, from a select group of correspondent lenders. The Bank also originates consumer loans primarily secured by one- to four-family residential properties and commercial real estate loans and also participates in commercial real estate loans. As a result of our one- to four-family lending activities, the Bank has a concentration of loans secured by real property located in Kansas and Missouri. One- to four-family loans - Full documentation to support an applicant's credit and income, and sufficient funds to cover all applicable fees and reserves at closing, are required on all loans. Generally, loans are underwritten according to the "ability to repay" and "qualified mortgage" standards, as issued by the Consumer Financial Protection Bureau ("CFPB"). Properties securing one- to four-family loans are appraised by either staff appraisers or fee appraisers, both of which are independent of the loan origination function and approved by our Board of Directors. The underwriting standards for loans purchased from correspondent and nationwide lenders are generally similar to the Bank's internal underwriting standards. The underwriting of loans purchased from correspondent lenders on a loan-by-loan basis is performed by the Bank's underwriters. For the tables within this Note, correspondent loans purchased on a loan-by-loan basis are included with originated loans, and loans purchased in loan packages ("bulk loans") are reported as purchased loans. The Bank also originates construction-to-permanent loans secured by one- to four-family residential real estate. Construction loans are obtained by homeowners who will occupy the property when construction is complete. Construction loans to builders for speculative purposes are not permitted by the Bank's lending policies. Construction draw requests and the supporting documentation are reviewed and approved by designated personnel. The Bank also performs regular documented inspections of the construction project to ensure the funds are being used for the intended purpose and the project is being completed according to the plans and specifications provided. Commercial real estate loans - The Bank's commercial real estate loans are originated by the Bank or are in participation with a lead bank. When underwriting a commercial real estate loan, several factors are considered, such as the income producing potential of the property, cash equity provided by the borrower, the financial strength of the borrower, managerial expertise of the borrower or tenant, feasibility studies, lending experience with the borrower and the marketability of the property. For commercial real estate participation loans, the Bank performs the same underwriting procedures as if the loan was being originated by the Bank. At the time of origination, LTV ratios on commercial real estate loans generally do not exceed 80% of the appraised value of the property securing the loans and the minimum debt service coverage ratio is generally 1.25 . Appraisals on properties securing these loans are performed by independent state certified fee appraisers. Consumer loans - The Bank offers a variety of secured consumer loans, including home equity loans and lines of credit, home improvement loans, auto loans, and loans secured by savings deposits. The Bank also originates a very limited amount of unsecured loans. The Bank does not originate any consumer loans on an indirect basis, such as contracts purchased from retailers of goods or services which have extended credit to their customers. The majority of the consumer loan portfolio is comprised of home equity lines of credit for which the Bank also has the first mortgage or the home equity line of credit is in the first lien position. The underwriting standards for consumer loans include a determination of an applicant's payment history on other debts and an assessment of an applicant's ability to meet existing obligations and payments on the proposed loan. Although creditworthiness of an applicant is a primary consideration, the underwriting process also includes a comparison of the value of the security in relation to the proposed loan amount. Credit Quality Indicators - Based on the Bank's lending emphasis and underwriting standards, management has segmented the loan portfolio into three segments: (1) one- to four-family; (2) consumer; and (3) commercial real estate. The one- to four-family and consumer loan portfolios are further segmented into classes for purposes of providing disaggregated information about the credit quality of the loan portfolio. The classes are: one- to four-family - originated, one- to four-family - purchased, consumer - home equity, and consumer - other. The Bank's primary credit quality indicators for the one- to four-family and consumer - home equity loan portfolios are delinquency status, asset classifications, LTV ratios, and borrower credit scores. The Bank's primary credit quality indicators for the commercial real estate and consumer - other loan portfolios are delinquency status and asset classifications. The following tables present the recorded investment, by class, in loans 30 to 89 days delinquent, loans 90 or more days delinquent or in foreclosure, total delinquent loans, current loans, and total recorded investment at the dates presented. The recorded investment in loans is defined as the unpaid principal balance of a loan (net of unadvanced funds related to loans in process), less charge-offs and inclusive of unearned loan fees and deferred costs. At September 30, 2016 and 2015, all loans 90 or more days delinquent were on nonaccrual status. September 30, 2016 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family - originated $ 16,934 $ 9,145 $ 26,079 $ 6,240,953 $ 6,267,032 One- to four-family - purchased 5,082 7,380 12,462 406,379 418,841 Commercial real estate — — — 153,082 153,082 Consumer - home equity 635 520 1,155 122,190 123,345 Consumer - other 62 9 71 4,193 4,264 $ 22,713 $ 17,054 $ 39,767 $ 6,926,797 $ 6,966,564 September 30, 2015 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family - originated $ 19,285 $ 7,093 $ 26,378 $ 5,869,289 $ 5,895,667 One- to four-family - purchased 7,305 8,956 16,261 472,114 488,375 Commercial real estate — — — 120,405 120,405 Consumer - home equity 703 497 1,200 124,644 125,844 Consumer - other 17 12 29 4,150 4,179 $ 27,310 $ 16,558 $ 43,868 $ 6,590,602 $ 6,634,470 The recorded investment of mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process as of September 30, 2016 was $5.7 million , which is included in loans 90 or more days delinquent or in foreclosure in the table above. The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure was $2.5 million at September 30, 2016. The following table presents the recorded investment, by class, in loans classified as nonaccrual at the dates presented. September 30, 2016 2015 (Dollars in thousands) One- to four-family - originated $ 20,874 $ 16,093 One- to four-family - purchased 7,411 9,038 Commercial real estate — — Consumer - home equity 848 792 Consumer - other 10 12 $ 29,143 $ 25,935 In accordance with the Bank's asset classification policy, management regularly reviews the problem loans in the Bank's portfolio to determine whether any loans require classification. Loan classifications are defined as follows: • Special mention - These loans are performing loans on which known information about the collateral pledged or the possible credit problems of the borrower(s) have caused management to have doubts as to the ability of the borrower(s) to comply with present loan repayment terms and which may result in the future inclusion of such loans in the non-performing loan categories. • Substandard - A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those characterized by the distinct possibility the Bank will sustain some loss if the deficiencies are not corrected. • Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses present make collection or liquidation in full on the basis of currently existing facts and conditions and values highly questionable and improbable. • Loss - Loans classified as loss are considered uncollectible and of such little value that their continuance as assets on the books is not warranted. The following table sets forth the recorded investment in loans classified as special mention or substandard, by class, at the dates presented. Special mention and substandard loans are included in the ACL formula analysis model if the loans are not individually evaluated for loss. Loans classified as doubtful or loss are individually evaluated for loss. At the dates presented, there were no loans classified as doubtful, and all loans classified as loss were fully charged-off. September 30, 2016 2015 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family - originated $ 12,738 $ 32,986 $ 16,149 $ 29,282 One- to four-family - purchased 1,156 11,480 1,376 13,237 Commercial real estate — — — — Consumer - home equity 54 1,431 151 1,301 Consumer - other 8 16 — 17 $ 13,956 $ 45,913 $ 17,676 $ 43,837 The following table shows the weighted average credit score and weighted average LTV for originated and purchased one- to four-family loans and originated consumer home equity loans at the dates presented. Borrower credit scores are intended to provide an indication as to the likelihood that a borrower will repay their debts. Credit scores are updated at least semiannually, with the last update in September 2016, from a nationally recognized consumer rating agency. The LTV ratios provide an estimate of the extent to which the Bank may incur a loss on any given loan that may go into foreclosure. The consumer - home equity LTV does not take into account the first lien position, if applicable. The LTV ratios were based on the current loan balance and either the lesser of the purchase price or original appraisal, or the most recent Bank appraisal, if available. In most cases, the most recent appraisal was obtained at the time of origination. September 30, 2016 2015 Credit Score LTV Credit Score LTV One- to four-family - originated 765 65 % 765 65 % One- to four-family - purchased 753 64 752 65 Consumer - home equity 755 20 753 18 764 64 764 64 TDRs - The following tables present the recorded investment prior to restructuring and immediately after restructuring in all loans restructured during the periods presented. These tables do not reflect the recorded investment at the end of the periods indicated. Any increase in the recorded investment at the time of the restructuring was generally due to the capitalization of delinquent interest and/or escrow balances. For the Year Ended September 30, 2016 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 134 $ 19,793 $ 20,176 One- to four-family - purchased 3 596 594 Commercial real estate — — — Consumer - home equity 19 427 433 Consumer - other 1 8 8 157 $ 20,824 $ 21,211 For the Year Ended September 30, 2015 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 143 $ 17,811 $ 18,010 One- to four-family - purchased 4 1,140 1,144 Commercial real estate — — — Consumer - home equity 22 479 485 Consumer - other 3 12 12 172 $ 19,442 $ 19,651 For the Year Ended September 30, 2014 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 145 $ 17,721 $ 17,785 One- to four-family - purchased 7 1,054 1,056 Commercial real estate — — — Consumer - home equity 6 100 101 Consumer - other — — — 158 $ 18,875 $ 18,942 The following table provides information on TDRs that became delinquent during the periods presented within 12 months after being restructured. For the Years Ended September 30, 2016 September 30, 2015 September 30, 2014 Number of Recorded Number of Recorded Number of Recorded Contracts Investment Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family - originated 51 $ 5,878 52 $ 5,743 38 $ 4,112 One- to four-family - purchased — — 4 890 3 780 Commercial real estate — — — — — — Consumer - home equity 6 174 4 33 2 56 Consumer - other — — 1 5 — — 57 $ 6,052 61 $ 6,671 43 $ 4,948 Impaired loans - The following information pertains to impaired loans, by class, as of the dates presented. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. September 30, 2016 September 30, 2015 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance ACL Investment Balance ACL (Dollars in thousands) With no related allowance recorded One- to four-family - originated $ 25,945 $ 26,590 $ — $ 11,169 $ 11,857 $ — One- to four-family - purchased 10,985 12,684 — 11,035 13,315 — Commercial real estate — — — — — — Consumer - home equity 1,014 1,230 — 591 837 — Consumer - other 10 42 — 13 40 — 37,954 40,546 — 22,808 26,049 — With an allowance recorded One- to four-family - originated 16,092 16,140 129 26,453 26,547 294 One- to four-family - purchased 1,650 1,627 49 3,764 3,731 110 Commercial real estate — — — — — — Consumer - home equity 548 548 38 869 870 62 Consumer - other 6 6 1 10 10 1 18,296 18,321 217 31,096 31,158 467 Total One- to four-family - originated 42,037 42,730 129 37,622 38,404 294 One- to four-family - purchased 12,635 14,311 49 14,799 17,046 110 Commercial real estate — — — — — — Consumer - home equity 1,562 1,778 38 1,460 1,707 62 Consumer - other 16 48 1 23 50 1 $ 56,250 $ 58,867 $ 217 $ 53,904 $ 57,207 $ 467 The following information pertains to impaired loans, by class, for the periods presented. For the Years Ended September 30, 2016 September 30, 2015 September 30, 2014 Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized (Dollars in thousands) With no related allowance recorded One- to four-family - originated $ 12,558 $ 488 $ 12,215 $ 461 $ 13,455 $ 416 One- to four-family - purchased 11,022 196 11,153 196 13,305 212 Commercial real estate — — — — — — Consumer - home equity 628 93 485 29 567 33 Consumer - other 13 1 12 — 6 — 24,221 778 23,865 686 27,333 661 With an allowance recorded One- to four-family - originated 26,868 1,033 27,224 1,079 28,171 1,117 One- to four-family - purchased 2,219 27 2,960 40 2,334 53 Commercial real estate — — — — 17 1 Consumer - home equity 895 64 795 34 558 22 Consumer - other 13 1 15 2 12 — 29,995 1,125 30,994 1,155 31,092 1,193 Total One- to four-family - originated 39,426 1,521 39,439 1,540 41,626 1,533 One- to four-family - purchased 13,241 223 14,113 236 15,639 265 Commercial real estate — — — — 17 1 Consumer - home equity 1,523 157 1,280 63 1,125 55 Consumer - other 26 2 27 2 18 — $ 54,216 $ 1,903 $ 54,859 $ 1,841 $ 58,425 $ 1,854 Allowance for Credit Losses - The following is a summary of ACL activity, by loan portfolio segment, for the periods presented, and the ending balance of ACL based on the Company's impairment methodology. For the Year Ended September 30, 2016 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 Charge-offs (200 ) (342 ) (542 ) — (88 ) (630 ) Recoveries 77 374 451 — 26 477 Provision for credit losses (827 ) (401 ) (1,228 ) 466 12 (750 ) Ending balance $ 6,030 $ 1,065 $ 7,095 $ 1,208 $ 237 $ 8,540 For the Year Ended September 30, 2015 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 6,263 $ 2,323 $ 8,586 $ 400 $ 241 $ 9,227 Charge-offs (435 ) (228 ) (663 ) — (72 ) (735 ) Recoveries 56 58 114 — 66 180 Provision for credit losses 1,096 (719 ) 377 342 52 771 Ending balance $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 For the Year Ended September 30, 2014 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 5,771 $ 2,486 $ 8,257 $ 185 $ 380 $ 8,822 Charge-offs (380 ) (653 ) (1,033 ) — (109 ) (1,142 ) Recoveries 1 64 65 — 73 138 Provision for credit losses 871 426 1,297 215 (103 ) 1,409 Ending balance $ 6,263 $ 2,323 $ 8,586 $ 400 $ 241 $ 9,227 The following is a summary of the loan portfolio and related ACL balances, at the dates presented, by loan portfolio segment disaggregated by the Company's impairment method. There was no ACL for loans individually evaluated for impairment at either date as all potential losses were charged-off. The increase in the balance of loans individually evaluated for impairment at September 30, 2016 compared to September 30, 2015 was due largely to TDR activity. September 30, 2016 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 6,237,097 $ 407,833 $ 6,644,930 $ 153,082 $ 126,504 $ 6,924,516 Recorded investment in loans individually evaluated for impairment 29,935 11,008 40,943 — 1,105 42,048 $ 6,267,032 $ 418,841 $ 6,685,873 $ 153,082 $ 127,609 $ 6,966,564 ACL for loans collectively evaluated for impairment $ 6,030 $ 1,065 $ 7,095 $ 1,208 $ 237 $ 8,540 September 30, 2015 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 5,884,498 $ 477,340 $ 6,361,838 $ 120,405 $ 129,419 $ 6,611,662 Recorded investment in loans individually evaluated for impairment 11,169 11,035 22,204 — 604 22,808 $ 5,895,667 $ 488,375 $ 6,384,042 $ 120,405 $ 130,023 $ 6,634,470 ACL for loans collectively evaluated for impairment $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 |
Premises And Equipment, Net
Premises And Equipment, Net | 12 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment, Net [Abstract] | |
Premises And Equipment, Net | 5. PREMISES AND EQUIPMENT, Net A summary of the net carrying value of premises and equipment at September 30, 2016 and 2015 was as follows: 2016 2015 (Dollars in thousands) Land $ 11,065 $ 11,055 Building and improvements 91,700 82,928 Furniture, fixtures and equipment 42,590 42,731 145,355 136,714 Less accumulated depreciation 62,134 60,904 $ 83,221 $ 75,810 The Bank has entered into non-cancelable operating lease agreements with respect to banking premises and equipment. It is expected that many agreements will be renewed at expiration in the normal course of business. Rental expense was $1.2 million , $1.1 million , and $1.1 million for the years ended September 30, 2016, 2015, and 2014, respectively. As of September 30, 2016, future minimum rental commitments, rounded to the nearest thousand, required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year were as follows: 2017 $ 1,106 2018 1,107 2019 993 2020 751 2021 655 Thereafter 2,525 $ 7,137 |
Low Income Housing Partnerships
Low Income Housing Partnerships | 12 Months Ended |
Sep. 30, 2016 | |
Investments in Affordable Housing Projects [Abstract] | |
Low Income Housing Partnerships | 6. LOW INCOME HOUSING PARTNERSHIPS The Bank's investment in low income housing partnerships, which is included in other assets in the consolidated balance sheets, was $58.0 million and $41.8 million at September 30, 2016 and 2015, respectively. The Bank's obligations related to unfunded commitments, which are included in accounts payable and accrued expenses in the consolidated balance sheets, were $27.2 million and $14.6 million at September 30, 2016 and 2015, respectively. The majority of the commitments are projected to be funded through the end of calendar year 2018 . Expenses associated with the Bank's investment in the low income housing partnerships are included in low income housing partnerships in the consolidated statements of income. The low income housing partnership expenses resulted in other tax benefits of $1.1 million , $963 thousand and $866 thousand for fiscal years 2016, 2015, and 2014, respectively, which are a component of income tax expense in the consolidated statements of income. Affordable housing tax credits are recognized as a component of income tax expense in the consolidated statements of income and totaled $4.8 million , $4.3 million , and $3.6 million for fiscal years 2016, 2015, and 2014, respectively. There were no impairment losses during fiscal years 2016, 2015, or 2014 resulting from the forfeiture or ineligibility of tax credits or other circumstances. At September 30, 2016, the Bank accounted for low income housing partnerships using the equity method of accounting as two of the Bank's officers were involved in the operational management of the low income housing partnership investment group. Effective September 30, 2016, those two Bank officers discontinued their involvement in the operational management of the investment group. Starting October 1, 2016, the Bank will use the proportional method of accounting for its low income housing partnership investments. In fiscal year 2017, the Bank will no longer report low income housing partnership expenses in non-interest expense; rather, the pretax operating losses and related tax benefits of the investments will be reported as a component of income tax expense. |
Deposits and Borrowed Funds
Deposits and Borrowed Funds | 12 Months Ended |
Sep. 30, 2016 | |
Deposits and Borrowed Funds [Abstract] | |
Deposits and Borrowed Funds | 7. DEPOSITS AND BORROWED FUNDS Deposits - Non-interest-bearing deposits totaled $217.0 million and $188.0 million as of September 30, 2016 and 2015, respectively. Certificates of deposit with a minimum denomination of $250 thousand were $576.4 million and $490.1 million as of September 30, 2016 and 2015, respectively. Deposits in excess of $250 thousand may not be fully insured by the Federal Deposit Insurance Corporation. FHLB Borrowings - FHLB borrowings at September 30, 2016 consisted of $2.37 billion in fixed-rate FHLB advances and no borrowings against the variable-rate FHLB line of credit. The line of credit is set to expire on November 17, 2017 , at which time it is expected to be renewed automatically by FHLB for a one year period. FHLB borrowings at September 30, 2015 consisted of $2.57 billion in fixed-rate FHLB advances and $700.0 million against the variable-rate FHLB line of credit. During fiscal years 2016 and 2015 and the fourth quarter of fiscal year 2014, the Bank utilized a leverage strategy ("daily leverage strategy") to increase earnings. The daily leverage strategy involves borrowing up to $2.10 billion against the Bank's FHLB line of credit with some or all of the balance being paid down at each quarter end. The proceeds of the borrowings, net of the required FHLB stock holdings, is deposited at the Federal Reserve Bank of Kansas City. Management can discontinue to the use of the daily leverage strategy at any point in time. FHLB advances at September 30, 2016 and 2015 were comprised of the following: 2016 2015 (Dollars in thousands) Fixed-rate FHLB advances $ 2,375,000 $ 2,575,000 Deferred prepayment penalty (2,611 ) (4,479 ) $ 2,372,389 $ 2,570,521 Weighted average contractual interest rate on FHLB advances 2.17 % 2.09 % Weighted average effective interest rate on FHLB advances (1) 2.24 2.24 (1) The effective interest rate includes the net impact of deferred amounts related to certain FHLB advances. During fiscal year 2015, the Bank prepaid $325.0 million of fixed-rate FHLB advances with a weighted average contractual interest rate of 2.61% and a weighted average remaining term to maturity of approximately four months. The prepaid FHLB advances were replaced with $325.0 million of fixed-rate FHLB advances with a weighted average contractual interest rate of 1.66% and a weighted average term of 53 months. The Bank paid $3.4 million in prepayment penalties to FHLB as a result of prepaying the FHLB advances. The present value of the cash flows under the terms of the new FHLB advances was not more than 10% different from the present value of the cash flow under the terms of the prepaid FHLB advances (including the prepayment penalties) and there were no embedded conversion options in the prepaid advances or in the new FHLB advances. The prepayment penalties effectively increased the weighted average interest rate on the new advances by 42 basis points at the time of the transactions. The deferred prepayment penalties are being recognized in interest expense over the lives of the new FHLB advances. FHLB borrowings are secured by certain qualifying loans pursuant to a blanket collateral agreement with FHLB and certain securities, when necessary. Per FHLB's lending guidelines, total FHLB borrowings cannot exceed 40% of a borrowing institution's regulatory total assets without the pre-approval of FHLB senior management. In June 2016, the president of FHLB approved an increase, through July 2017, in the Bank's borrowing limit to 55% of Bank Call Report total assets. At September 30, 2016, the ratio of the par value of the Bank's FHLB borrowings to the Bank's Call Report total assets was 26% . During fiscal year 2016, the Bank's FHLB borrowings to the Bank's Call Report total assets was in excess of 40% due to the daily leverage strategy. Repurchase Agreements - At September 30, 2016 and 2015, the Company had repurchase agreements outstanding in the amount of $200.0 million , with a weighted average contractual rate of 2.94% . All of the Company's repurchase agreements at September 30, 2016 and 2015 were fixed-rate. See the Securities Note for information regarding the amount of securities pledged as collateral in conjunction with repurchase agreements. Securities are delivered to the party with whom each transaction is executed and the party agrees to resell the same securities to the Bank at the maturity of the agreement. The Bank retains the right to substitute similar or like securities throughout the terms of the agreements. The repurchase agreements and collateral are subject to valuation at current market levels and the Bank may ask for the return of excess collateral or be required to post additional collateral due to changes in the market values of these items. The Bank may also be required to post additional collateral as a result of principal payments received on the securities pledged. Maturity of Borrowed Funds and Certificates of Deposit - The following table presents the scheduled maturity of FHLB advances, at par, repurchase agreements, and certificates of deposit as of September 30, 2016: FHLB Repurchase Certificates Advances Agreements of Deposit Amount Amount Amount (Dollars in thousands) 2017 $ 500,000 $ — $ 1,172,398 2018 375,000 100,000 562,007 2019 400,000 — 492,691 2020 250,000 100,000 454,991 2021 550,000 — 143,761 Thereafter 300,000 — 2,284 $ 2,375,000 $ 200,000 $ 2,828,132 |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. INCOME TAXES Income tax expense for the years ended September 30, 2016, 2015, and 2014 consisted of the following: 2016 2015 2014 (Dollars in thousands) Current: Federal $ 33,298 $ 30,079 $ 32,137 State 4,677 4,395 3,215 37,975 34,474 35,352 Deferred: Federal 286 2,869 2,121 State 184 332 (15 ) 470 3,201 2,106 $ 38,445 $ 37,675 $ 37,458 The Company's effective tax rates were 31.5% , 32.5% , and 32.5% for the years ended September 30, 2016, 2015, and 2014, respectively. The differences between such effective rates and the statutory Federal income tax rate computed on income before income tax expense resulted from the following: 2016 2015 2014 Amount % Amount % Amount % (Dollars in thousands) Federal income tax expense computed at statutory Federal rate $ 42,679 35.0 % $ 40,519 35.0 % $ 40,303 35.0 % Increases (decreases) in taxes resulting from: State taxes, net of Federal tax effect 3,308 2.7 3,257 2.8 3,200 2.8 Low income housing tax credits (4,815 ) (4.0 ) (4,316 ) (3.7 ) (3,580 ) (3.1 ) ESOP related expenses, net (1,127 ) (0.9 ) (1,222 ) (1.1 ) (1,550 ) (1.4 ) Other (1,600 ) (1.3 ) (563 ) (0.5 ) (915 ) (0.8 ) $ 38,445 31.5 % $ 37,675 32.5 % $ 37,458 32.5 % Deferred income tax expense represents the change in deferred income tax assets and liabilities excluding the tax effects of the change in net unrealized gain (loss) on AFS securities and changes in the market value of restricted stock between the grant date and vesting date. The sources of these differences and the tax effect of each as of September 30, 2016, 2015, and 2014 were as follows: 2016 2015 2014 (Dollars in thousands) Premises and equipment $ 1,593 $ (129 ) $ (388 ) ACL 480 (75 ) (37 ) FHLB stock dividends (1,357 ) 4,083 (832 ) Low income housing partnerships (318 ) (763 ) (50 ) Capitol Federal Foundation contribution — 418 3,768 Other, net 72 (333 ) (355 ) $ 470 $ 3,201 $ 2,106 The components of the net deferred income tax liabilities as of September 30, 2016 and 2015 were as follows: 2016 2015 (Dollars in thousands) Deferred income tax assets: Salaries and employee benefits $ 2,050 $ 2,194 Low income housing partnerships 1,763 1,445 ESOP compensation 1,566 1,393 ACL 896 1,376 Other 3,498 3,652 Gross deferred income tax assets 9,773 10,060 Valuation allowance (1,804 ) (1,807 ) Gross deferred income tax asset, net of valuation allowance 7,969 8,253 Deferred income tax liabilities: FHLB stock dividends 23,238 24,595 Premises and equipment 6,091 4,498 Unrealized gain on AFS securities 3,595 5,089 Other 419 462 Gross deferred income tax liabilities 33,343 34,644 Net deferred tax liabilities $ 25,374 $ 26,391 The Company assesses the available positive and negative evidence surrounding the recoverability of its deferred tax assets and applies its judgment in estimating the amount of valuation allowance necessary under the circumstances. At both September 30, 2016 and 2015, the Company had a valuation allowance of $1.8 million related to the net operating losses generated by the Company's consolidated Kansas corporate income tax return. The companies included in the consolidated Kansas corporate income tax return are the holding company and Capitol Funds, Inc., as the Bank files a Kansas privilege tax return. Based on the nature of the operations of the holding company and Capitol Funds, Inc., management believes there will not be sufficient taxable income to fully utilize the deferred tax assets noted above; therefore, a valuation allowance has been recorded for the related amounts at September 30, 2016 and 2015. Accounting Standard Codification ("ASC") 740 Income Taxes prescribes a process by which a tax position taken, or expected to be taken, on an income tax return is determined based upon the technical merits of the position, along with whether the tax position meets a more-likely-than-not-recognition threshold, to determine the amount, if any, of unrecognized tax benefits to recognize in the financial statements. Estimated penalties and interest related to unrecognized tax benefits are included in income tax expense in the consolidated statements of income. For the year ended September 30, 2016, the Company had no unrecognized tax benefits. For the years ended September 30, 2015, and 2014, the Company's unrecognized tax benefits, estimated penalties and interest, and related activities were insignificant. The Company files income tax returns in the U.S. federal jurisdiction and the state of Kansas, as well as other states where it has either established nexus under an economic nexus theory or has exceeded enumerated nexus thresholds based on the amount of interest income derived from sources within a given state. With few exceptions, the Company is no longer subject to U.S. federal and state examinations by tax authorities for fiscal years before 2013 . |
ESOP
ESOP | 12 Months Ended |
Sep. 30, 2016 | |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | |
Employee Benefit Plans | 9. ESOP The ESOP trust acquired 3,024,574 shares ( 6,846,728 shares post-corporate reorganization) of common stock in the Company's initial public offering and 4,726,000 shares of common stock in the Company's corporate reorganization in December of 2010. Both acquisitions of common stock were made with proceeds from loans from the Company, secured by shares of the Company's stock purchased in each offering. The Bank has agreed to make cash contributions to the ESOP trust on an annual basis sufficient to enable the ESOP trust to make the required annual loan payments to the Company on September 30 of each year. The loan for the shares acquired in the initial public offering matured on September 30, 2013 . The loan for the shares acquired in the corporate reorganization matures on September 30, 2040 . As annual loan payments are made on September 30, shares are released from collateral and allocated to qualified employees based on the proportion of their qualifying compensation to total qualifying compensation. On September 30, 2016, 165,198 shares were released from collateral. On September 30, 2017, 165,198 shares will be released from collateral. As ESOP shares are committed to be released from collateral, the Company records compensation expense. Dividends on unallocated ESOP shares are applied to the debt service payments of the loan secured by the unallocated shares. Dividends on unallocated ESOP shares in excess of the debt service payment are recorded as compensation expense and distributed to participants or participants' ESOP accounts. Compensation expense related to the ESOP was $3.0 million for the year ended September 30, 2016, $3.0 million for the year ended September 30, 2015, and $3.8 million for the year ended September 30, 2014. Of these amounts, $522 thousand , $384 thousand , and $362 thousand related to the difference between the market price of the Company's stock when the shares were acquired by the ESOP trust and the average market price of the Company's stock during the years ended September 30, 2016, 2015, and 2014, respectively. The amount included in compensation expense for dividends on unallocated ESOP shares in excess of the debt service payments was $813 thousand , $952 thousand , and $1.7 million for the years ended September 30, 2016, 2015, and 2014, respectively, which was related to the loan for the shares acquired in the corporate reorganization. Shares may be withdrawn from the ESOP trust due to retirement, termination, or death of the participant. Additionally, a participant may begin to diversify at least 25% of their ESOP shares at age 50 . The following is a summary of shares held in the ESOP trust as of September 30, 2016 and 2015: 2016 2015 (Dollars in thousands) Allocated ESOP shares 4,392,371 4,490,885 Unreleased ESOP shares 3,964,752 4,129,950 Total ESOP shares 8,357,123 8,620,835 Fair value of unreleased ESOP shares $ 55,784 $ 50,055 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Sep. 30, 2016 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | 10. STOCK-BASED COMPENSATION The Company has a Stock Option Plan, a Restricted Stock Plan, and an Equity Incentive Plan, all of which are considered share-based plans. The Stock Option Plan and Restricted Stock Plan expired in April 2015. No additional grants can be made from these two plans; however awards granted under these two plans remain outstanding until they are individually vested, forfeited or expire. The objectives of the Equity Incentive Plan are to provide additional compensation to certain officers, directors and key employees by facilitating their acquisition of stock interest in the Company and enable the Company to retain personnel of experience and ability in key positions of responsibility. Stock Option Plans – There are currently 700,007 stock options outstanding as a result of grants awarded from the Stock Option Plan. The Equity Incentive Plan had 5,907,500 stock options originally eligible to be granted and, as of September 30, 2016, the Company had 4,172,316 stock options still available for future grants under this plan. This plan will expire in January 2027 and no additional grants may be made after expiration, but awards granted under this plan remain outstanding until they are individually vested, forfeited, or expire. The Company may issue incentive and nonqualified stock options under the Equity Incentive Plan. The Company may also award stock appreciation rights, although no stock appreciation rights have been awarded to date. The incentive stock options expire no later than 10 years from the date of grant, and the nonqualified stock options expire no later than 15 years from the date of grant. The vesting period of the stock options under the Equity Incentive Plan generally has ranged from three to five years. The stock option price cannot be less than the market value at the date of the grant as defined by each plan. The fair value of stock option grants is estimated on the date of the grant using the Black-Scholes option pricing model. At September 30, 2016, the Company had 2,031,211 stock options outstanding with a weighted average exercise price of $13.08 per option and a weighted average contractual life of 6.0 years , and 1,824,711 options exercisable with a weighted average exercise price of $13.18 per option and a weighted average contractual life of 5.8 years . The exercise price may be paid in cash, shares of common stock, or a combination of both. New shares are issued by the Company upon the exercise of stock options. Compensation expense attributable to stock option awards during the years ended September 30, 2016, 2015, and 2014 totaled $335 thousand , $618 thousand , and $633 thousand , respectively. The fair value of stock options vested during the years ended September 30, 2016, 2015, and 2014 was $652 thousand , $615 thousand , and $646 thousand , respectively. As of September 30, 2016, the total future compensation cost related to non-vested stock options not yet recognized in the consolidated statements of income was $254 thousand , net of estimated forfeitures, and the weighted average period over which these awards are expected to be recognized was 2.4 years . Restricted Stock Plans – The Equity Incentive Plan had 2,363,000 shares originally eligible to be granted as restricted stock and, as of September 30, 2016, the Company had 1,777,850 shares available for future grants of restricted stock under this plan. This plan will expire in January 2027 and no additional grants may be made after expiration, but awards granted under this plan remain outstanding until they are individually vested or forfeited. The vesting period of the restricted stock awards under the Equity Incentive Plan has generally ranged from three to five years. At September 30, 2016, the Company had 74,525 unvested restricted stock shares with a weighted average grant date fair value of $12.50 per share. Compensation expense is calculated based on the fair market value of the common stock at the date of the grant, as defined by the plan, and is recognized over the vesting time period. Compensation expense attributable to restricted stock awards during the years ended September 30, 2016, 2015, and 2014 totaled $787 thousand , $1.5 million , and $1.5 million , respectively. The fair value of restricted stock that vested during the years ended September 30, 2016, 2015, and 2014 totaled $1.6 million , $1.5 million , and $1.5 million , respectively. As of September 30, 2016 there was $724 thousand of unrecognized compensation cost related to unvested restricted stock to be recognized over a weighted average period of 2.8 years . |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 11. COMMITMENTS AND CONTINGENCIES The following table summarizes the Bank's loan commitments as of September 30, 2016 and 2015: 2016 2015 (Dollars in thousands) Originate fixed-rate $ 68,047 $ 54,555 Originate adjustable-rate 12,257 16,164 Purchase/participate fixed-rate 138,792 128,334 Purchase/participate adjustable-rate 18,653 13,785 $ 237,749 $ 212,838 Commitments to originate loans are commitments to lend to a customer. Commitments to purchase/participate in loans represent commitments to purchase loans from correspondent lenders on a loan-by-loan basis or participate in commercial real estate loans with a lead bank. The Bank evaluates each borrower's creditworthiness on a case-by-case basis. Commitments generally have expiration dates or other termination clauses and one-to four-family loan commitments may require the payment of a rate lock fee. Some of the commitments are expected to expire without being fully drawn upon; therefore, the amount of total commitments disclosed in the table above does not necessarily represent future cash requirements. As of September 30, 2016 and 2015, there were no significant loan-related commitments that met the definition of derivatives or commitments to sell mortgage loans. As of September 30, 2016 and 2015, the Bank had approved but unadvanced home equity lines of credit of $262.8 million and $259.7 million , respectively. In the normal course of business, the Company and its subsidiary are named defendants in various lawsuits and counterclaims. In the opinion of management, after consultation with legal counsel, none of the currently pending suits are expected to have a materially adverse effect on the Company's consolidated financial statements for the year ended September 30, 2016, or future periods. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 12 Months Ended |
Sep. 30, 2016 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Requirements | 12. REGULATORY CAPITAL REQUIREMENTS The Bank and the Company are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly additional discretionary, actions by regulators that, if undertaken, could have a material adverse effect on the Company's financial statements. Under regulatory capital adequacy guidelines, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Company's and Bank's assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Additionally, the Bank must meet specific capital guidelines to be considered well capitalized per the regulatory framework for prompt corrective action. The Company's and Bank's capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors. Generally, savings institutions, such as the Bank, may make capital distributions during any calendar year equal to the earnings of the previous two calendar years and current year-to-date earnings. It is generally required that the Bank remain well capitalized before and after the proposed distribution. The Company's ability to pay dividends is dependent, in part, upon its ability to obtain capital distributions from the Bank. So long as the Bank continues to remain well capitalized after each capital distribution and operates in a safe and sound manner, it is management's belief that the regulators will continue to allow the Bank to distribute its net income to the Company, although no assurance can be given in this regard. In conjunction with the Company's corporate reorganization in December 2010, a "liquidation account" was established for the benefit of certain depositors of the Bank in an amount equal to Capitol Federal Savings Bank MHC's ownership interest in the retained earnings of Capitol Federal Financial as of June 30, 2010. As of September 30, 2016, the balance of this liquidation account was $187.0 million . Under applicable federal banking regulations, neither the Company nor the Bank is permitted to pay dividends on its capital stock to its stockholders if stockholders' equity would be reduced below the amount of the liquidation account at that time. The Bank and the Company must maintain certain minimum capital ratios as set forth in the table below for capital adequacy purposes. Beginning January 1, 2016, the Company and Bank were required to maintain a capital conservation buffer above certain minimum capital ratios for capital adequacy purposes in order to avoid certain restrictions on capital distributions and other payments including dividends, share repurchases, and certain compensation. The capital conservation buffer is being phased in equally over a four year period by increasing the required buffer percentage by 0.625% each year. Once fully phased-in, the Bank and Company must maintain a balance of Common Equity Tier 1 ("CET1") capital that exceeds 2.5% of each of the minimum risk-based capital ratios (CET1 capital ratio, Tier 1 capital ratio, and Total capital ratio) in order to satisfy the capital conservation buffer requirement. At September 30, 2016, the Bank and Company exceeded the capital conservation buffer requirement. As of September 30, 2016 and 2015, regulatory guidelines categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. Management believes, as of September 30, 2016, that the Bank and Company meet all capital adequacy requirements to which they are subject and there were no conditions or events subsequent to September 30, 2016 that would change the Bank's or Company's category. To Be Well Capitalized Under Prompt For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank As of September 30, 2016 Tier 1 leverage ratio $ 1,234,912 10.9 % $ 452,339 4.0 % $ 565,424 5.0 % CET1 capital ratio 1,234,912 28.5 195,080 4.5 281,783 6.5 Tier 1 capital ratio 1,234,912 28.5 260,107 6.0 346,809 8.0 Total capital ratio 1,243,452 28.7 346,809 8.0 433,512 10.0 As of September 30, 2015 Tier 1 leverage ratio 1,266,054 11.3 447,986 4.0 559,982 5.0 CET1 capital ratio 1,266,054 30.0 189,663 4.5 273,958 6.5 Tier 1 capital ratio 1,266,054 30.0 252,885 6.0 337,179 8.0 Total capital ratio 1,275,497 30.3 337,179 8.0 421,474 10.0 Company As of September 30, 2016 Tier 1 leverage ratio 1,387,049 12.3 452,248 4.0 N/A N/A CET1 capital ratio 1,387,049 32.0 195,094 4.5 N/A N/A Tier 1 capital ratio 1,387,049 32.0 260,126 6.0 N/A N/A Total capital ratio 1,395,589 32.2 346,835 8.0 N/A N/A As of September 30, 2015 Tier 1 leverage ratio 1,407,852 12.6 448,003 4.0 N/A N/A CET1 capital ratio 1,407,852 33.4 189,946 4.5 N/A N/A Tier 1 capital ratio 1,407,852 33.4 253,262 6.0 N/A N/A Total capital ratio 1,417,295 33.6 337,683 8.0 N/A N/A |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 12 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Financial Instruments | 13. FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value Measurements – The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures in accordance with ASC 820 and ASC 825. The Company did not have any liabilities that were measured at fair value at September 30, 2016 or 2015. The Company's AFS securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis, such as OREO and loans individually evaluated for impairment. These non-recurring fair value adjustments involve the application of lower of cost or fair value accounting or write-downs of individual assets. The Company groups its assets at fair value in three levels based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company's own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of option pricing models, discounted cash flow models, and similar techniques. The results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. The Company bases its fair values on the price that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date under current market conditions. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The following is a description of valuation methodologies used for assets measured at fair value on a recurring basis. AFS Securities - The Company's AFS securities portfolio is carried at estimated fair value, with any unrealized gains and losses, net of taxes, reported as AOCI in stockholders' equity. The majority of the securities within the AFS portfolio were issued by GSEs. The Company primarily uses prices obtained from third party pricing services to determine the fair value of its securities. On a quarterly basis, management corroborates a sample of prices obtained from the third party pricing service for Level 2 securities by comparing them to an independent source. If the price provided by the independent source varies by more than a predetermined percentage from the price received from the third party pricing service, then the variance is researched by management. The Company did not have to adjust prices obtained from the third party pricing service when determining the fair value of its securities during the years ended September 30, 2016 and 2015. The Company's major security types, based on the nature and risks of the securities, are: • GSE Debentures - Estimated fair values are based on a discounted cash flow method. Cash flows are determined by taking any embedded options into consideration and are discounted using current market yields for similar securities. (Level 2) • MBS - Estimated fair values are based on a discounted cash flow method. Cash flows are determined based on prepayment projections of the underlying mortgages and are discounted using current market yields for benchmark securities. (Level 2) • Municipal Bonds - Estimated fair values are based on a discounted cash flow method. Cash flows are determined by taking any embedded options into consideration and are discounted using current market yields for securities with similar credit profiles. (Level 2) • Trust Preferred Securities - Estimated fair values are based on a discounted cash flow method. Cash flows are determined by taking prepayment and underlying credit considerations into account. The discount rates are derived from secondary trades and bid/offer prices. (Level 3) The following tables provide the level of valuation assumption used to determine the carrying value of the Company's assets measured at fair value on a recurring basis at the dates presented. September 30, 2016 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) AFS Securities: GSE debentures $ 347,038 $ — $ 347,038 $ — MBS 178,507 — 178,507 — Trust preferred securities 1,756 — — 1,756 $ 527,301 $ — $ 525,545 $ 1,756 September 30, 2015 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) AFS Securities: GSE debentures $ 526,620 $ — $ 526,620 $ — MBS 229,491 — 229,491 — Municipal bonds 144 — 144 — Trust preferred securities 1,916 — — 1,916 $ 758,171 $ — $ 756,255 $ 1,916 The Company's Level 3 AFS securities had no activity during fiscal years 2016, 2015, and 2014 except for principal repayments of $97 thousand , $400 thousand , and $150 thousand , respectively, and increases in net unrealized losses included in other comprehensive income of $61 thousand , $45 thousand , and $16 thousand , respectively. The following is a description of valuation methodologies used for significant assets measured at fair value on a non-recurring basis. Loans Receivable – The balance of loans individually evaluated for impairment at September 30, 2016 and 2015 was $42.0 million and $22.8 million , respectively. The increase in the balance of loans individually evaluated for impairment at September 30, 2016 compared to September 30, 2015 was due largely to TDR activity. Substantially all of these loans were secured by residential real estate and were individually evaluated to determine if the carrying value of the loan was in excess of the fair value of the collateral, less estimated selling costs of 10% . When no impairment is indicated, the carrying amount is considered to approximate fair value. Fair values were estimated through current appraisals or current Federal Housing Finance Agency ("FHFA") housing price indices, which is a broad based measure of the movement of single-family house prices and is a weighted, repeat-sales index. Management does not adjust or apply a discount to the appraised value or FHFA housing price indices, except for the estimated sales costs noted above. The primary significant unobservable input for loans individually evaluated for impairment using appraisals to determine the estimated fair value was the appraisal. Fair values of loans individually evaluated for impairment cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the loan, and, as such are classified as Level 3. Based on this evaluation, the Bank charged-off all loss amounts as of September 30, 2016 and 2015; therefore, there was no ACL related to these loans. OREO – OREO primarily represents real estate acquired as a result of foreclosure or by deed in lieu of foreclosure and is carried at lower of cost or fair value. Fair value is estimated through current appraisals or listing prices, less estimated selling costs of 10% . Management does not adjust or apply a discount to the appraised value or listing price, except for the estimated sales costs noted above. The primary significant unobservable input for OREO was the appraisal or listing price. Fair values of foreclosed property cannot be determined with precision and may not be realized in an actual sale of the property, and, as such are classified as Level 3. The fair value of OREO at September 30, 2016 and 2015 was $3.7 million and $4.3 million , respectively. The following tables provide the level of valuation assumptions used to determine the carrying value of the Company's assets measured at fair value on a non-recurring basis at the dates presented. September 30, 2016 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Loans individually evaluated for impairment $ 41,995 $ — $ — $ 41,995 OREO 3,734 — — 3,734 $ 45,729 $ — $ — $ 45,729 September 30, 2015 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Loans individually evaluated for impairment $ 22,762 $ — $ — $ 22,762 OREO 4,333 — — 4,333 $ 27,095 $ — $ — $ 27,095 Fair Value Disclosures – The Company determined estimated fair value amounts using available market information and from a variety of valuation methodologies based on pertinent information available to management as of the dates presented. Considerable judgment is required to interpret market data to develop the estimates of fair value. The estimates presented are not necessarily indicative of amounts the Company would realize from a current market exchange at subsequent dates. The carrying amounts and estimated fair values of the Company's financial instruments at September 30, 2016 and 2015 were as follows: 2016 2015 Estimated Estimated Carrying Fair Carrying Fair Amount Value Amount Value (Dollars in thousands) Assets: Cash and cash equivalents $ 281,764 $ 281,764 $ 772,632 $ 772,632 AFS securities 527,301 527,301 758,171 758,171 HTM securities 1,100,874 1,122,867 1,271,122 1,295,274 Loans receivable 6,958,024 7,292,971 6,625,027 6,870,176 FHLB stock 109,970 109,970 150,543 150,543 Liabilities: Deposits 5,164,018 5,204,251 4,832,520 4,869,312 FHLB borrowings 2,372,389 2,434,151 3,270,521 3,339,650 Repurchase agreements 200,000 207,303 200,000 209,807 The following methods and assumptions were used to estimate the fair value of the financial instruments: Cash and Cash Equivalents - The carrying amounts of cash and cash equivalents are considered to approximate their fair value due to the nature of the financial assets. (Level 1) HTM Securities - Estimated fair values of securities are based on one of three methods: (1) quoted market prices where available; (2) quoted market prices for similar instruments if quoted market prices are not available; (3) unobservable data that represents the Bank's assumptions about items that market participants would consider in determining fair value where no market data is available. HTM securities are carried at amortized cost. (Level 2) Loans Receivable - The fair value of one- to four-family loans and home equity loans are generally estimated using the present value of expected future cash flows, assuming future prepayments and using discount factors determined by prices obtained from securitization markets, less a discount for the cost of servicing and lack of liquidity. The estimated fair value of the Bank's commercial and consumer loans are based on the expected future cash flows assuming future prepayments and discount factors based on current offering rates. (Level 3) FHLB stock - The carrying value and estimated fair value of FHLB stock equals cost, which is based on redemption at par value. (Level 1) Deposits - The estimated fair value of demand deposits, savings, and money market accounts is the amount payable on demand at the reporting date. The estimated fair value of these deposits at September 30, 2016 and 2015 was $2.34 billion and $2.20 billion , respectively. (Level 1) The fair value of certificates of deposit is estimated by discounting future cash flows using current London Interbank Offered Rates ("LIBOR"). The estimated fair value of certificates of deposit at September 30, 2016 and 2015 was $2.87 billion and $2.67 billion , respectively. (Level 2) FHLB borrowings and Repurchase Agreements - The fair value of fixed-maturity borrowed funds is estimated by discounting estimated future cash flows using current offer rates. (Level 2) The carrying value of FHLB line of credit is considered to approximate its fair value due to the nature of the financial liability. (Level 1) |
Selected Quarterly Financial Da
Selected Quarterly Financial Data | 12 Months Ended |
Sep. 30, 2016 | |
Selected Quarterly Financial Information [Abstract] | |
Selected Quarterly Financial Data | 14. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) The following table presents summarized quarterly data for each of the years indicated for the Company. First Second Third Fourth Quarter Quarter Quarter Quarter Total (Dollars and counts in thousands, except per share amounts) 2016 Total interest and dividend income $ 74,359 $ 75,632 $ 75,527 $ 75,595 $ 301,113 Net interest and dividend income 47,982 48,538 47,930 47,732 192,182 Provision for credit losses — — — (750 ) (750 ) Net income 20,718 21,527 20,551 20,698 83,494 Basic EPS 0.16 0.16 0.15 0.16 0.63 Diluted EPS 0.16 0.16 0.15 0.16 0.63 Dividends declared per share 0.335 0.085 0.335 0.085 0.84 Average number of basic shares outstanding 132,822 132,960 133,102 133,296 133,045 Average number of diluted shares outstanding 132,911 133,031 133,251 133,493 133,176 2015 Total interest and dividend income $ 74,900 $ 73,877 $ 74,174 $ 74,411 $ 297,362 Net interest and dividend income 48,036 46,779 47,013 47,940 189,768 Provision for credit losses 173 275 323 — 771 Net income 20,472 19,234 19,602 18,785 78,093 Basic EPS 0.15 0.14 0.14 0.14 0.58 Diluted EPS 0.15 0.14 0.14 0.14 0.58 Dividends declared per share 0.335 0.085 0.335 0.085 0.84 Average number of basic shares outstanding 136,088 136,208 135,746 133,515 135,384 Average number of diluted shares outstanding 136,116 136,246 135,763 133,533 135,409 |
Parent Company Financial Inform
Parent Company Financial Information (Parent Company Only) | 12 Months Ended |
Sep. 30, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Financial Information (Parent Company Only) | 15. PARENT COMPANY FINANCIAL INFORMATION (PARENT COMPANY ONLY) The Company serves as the holding company for the Bank (see "Note 1 – Summary of Significant Accounting Policies"). The Company's (parent company only) balance sheets at the dates presented, and the related statements of income and cash flows for each of the years presented are as follows: BALANCE SHEETS SEPTEMBER 30, 2016 and 2015 (Dollars in thousands, except per share amounts) 2016 2015 ASSETS: Cash and cash equivalents $ 108,197 $ 96,171 Investment in the Bank 1,240,827 1,274,429 Note receivable - ESOP 43,790 44,984 Other assets 389 420 Income taxes receivable, net — 318 TOTAL ASSETS $ 1,393,203 $ 1,416,322 LIABILITIES: Income taxes payable, net $ 128 $ — Accounts payable and accrued expenses 74 60 Deferred income tax liabilities, net 37 36 Total liabilities 239 96 STOCKHOLDERS' EQUITY: Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding — — Common stock, $.01 par value; 1,400,000,000 shares authorized, 137,486,172 and 137,106,822 shares issued and outstanding as of September 30, 2016 and 2015, respectively 1,375 1,371 Additional paid-in capital 1,156,855 1,151,041 Unearned compensation - ESOP (39,647 ) (41,299 ) Retained earnings 268,466 296,739 AOCI, net of tax 5,915 8,374 Total stockholders' equity 1,392,964 1,416,226 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,393,203 $ 1,416,322 STATEMENTS OF INCOME YEARS ENDED SEPTEMBER 30, 2016, 2015, and 2014 (Dollars in thousands) 2016 2015 2014 INTEREST AND DIVIDEND INCOME: Dividend income from the Bank $ 117,513 $ 115,359 $ 145,276 Interest income from other investments 1,725 1,835 2,004 Total interest and dividend income 119,238 117,194 147,280 NON-INTEREST EXPENSE: Salaries and employee benefits 827 835 774 Regulatory and outside services 261 243 248 Other non-interest expense 558 517 606 Total non-interest expense 1,646 1,595 1,628 INCOME BEFORE INCOME TAX EXPENSE AND EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY 117,592 115,599 145,652 INCOME TAX EXPENSE 28 84 132 INCOME BEFORE EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY 117,564 115,515 145,520 EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY (34,070 ) (37,422 ) (67,826 ) NET INCOME $ 83,494 $ 78,093 $ 77,694 STATEMENTS OF CASH FLOWS YEARS ENDED SEPTEMBER 30, 2016, 2015, and 2014 (Dollars in thousands) 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 83,494 $ 78,093 $ 77,694 Adjustments to reconcile net income to net cash provided by operating activities: Equity in excess of distribution over earnings of subsidiary 34,070 37,422 67,826 Depreciation of equipment 30 30 2 Provision for deferred income taxes 2 428 3,768 Changes in: Other assets 1 35 166 Income taxes receivable/payable 445 3,300 (562 ) Accounts payable and accrued expenses 14 1 (12 ) Net cash flows provided by operating activities 118,056 119,309 148,882 CASH FLOWS FROM INVESTING ACTIVITIES: Principal collected on notes receivable from ESOP 1,194 1,156 1,120 Purchase of equipment — — (370 ) Net cash flows provided by investing activities 1,194 1,156 750 CASH FLOWS FROM FINANCING ACTIVITIES: Net payment from subsidiary related to restricted stock awards 473 95 243 Dividends paid (111,767 ) (114,162 ) (138,172 ) Repurchase of common stock — (50,034 ) (79,633 ) Stock options exercised 4,070 267 458 Net cash flows used in financing activities (107,224 ) (163,834 ) (217,104 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 12,026 (43,369 ) (67,472 ) CASH AND CASH EQUIVALENTS: Beginning of year 96,171 139,540 207,012 End of year $ 108,197 $ 96,171 $ 139,540 |
Summary Of Significant Accoun25
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business - Capitol Federal Financial, Inc. (the "Company") provides a full range of retail banking services through its wholly-owned subsidiary, Capitol Federal Savings Bank (the "Bank"), a federal savings bank, which has 37 traditional and 10 in-store banking offices serving primarily the metropolitan areas of Topeka, Wichita, Lawrence, Manhattan, Emporia and Salina, Kansas and portions of the metropolitan area of greater Kansas City. The Bank emphasizes mortgage lending, primarily originating and purchasing one- to four-family loans, and providing personal retail financial services. The Bank is subject to competition from other financial institutions and other companies that provide financial services. |
Basis of Presentation | Basis of Presentation - The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, the Bank. The Bank has a wholly owned subsidiary, Capitol Funds, Inc. Capitol Funds, Inc. has a wholly-owned subsidiary, Capitol Federal Mortgage Reinsurance Company ("CFMRC"). All intercompany accounts and transactions have been eliminated in consolidation. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"), and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates and assumptions. The Bank has an expense sharing agreement with the Company that covers the reimbursement of certain expenses that are allocable to the Company. These expenses include compensation, rent for leased office space, and general overhead expenses. The Company, the Bank, Capitol Funds, Inc. and CFMRC have a tax allocation agreement. The Bank is the paying agent to the taxing authorities for the group for all periods presented. Each entity is liable for taxes as if separate tax returns were filed and reimburses the Bank for its pro rata share of the tax liability. If any entity has a tax benefit, the Bank reimburses the entity for its tax benefit. |
Cash and Cash Equivalents | Cash and Cash Equivalents - Cash and cash equivalents include cash on hand and amounts due from banks. Regulations of the Board of Governors of the Federal Reserve System ("FRB") require federally chartered savings banks to maintain cash reserves against their transaction accounts. Required reserves must be maintained in the form of vault cash, an account at a Federal Reserve Bank, or a pass-through account as defined by the FRB. The amount of interest-earning deposits held at the Federal Reserve Bank of Kansas City as of September 30, 2016 and 2015 was $264.4 million and $762.0 million , respectively. The Bank is in compliance with the FRB requirements. For the years ended September 30, 2016 and 2015, the average daily balance of required reserves at the Federal Reserve Bank was $8.8 million and $8.7 million , respectively. |
Securities | Securities - Securities include MBS and agency debentures issued primarily by United States Government-Sponsored Enterprises ("GSE"), including Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and the Federal Home Loan Banks, United States Government agencies, including Government National Mortgage Association, and municipal bonds. Securities are classified as HTM, AFS, or trading based on management's intention for holding the securities on the date of purchase. Generally, classifications are made in response to liquidity needs, asset/liability management strategies, and the market interest rate environment at the time of purchase. Securities that management has the intent and ability to hold to maturity are classified as HTM and reported at amortized cost. Such securities are adjusted for the amortization of premiums and discounts which are recognized as adjustments to interest income over the life of the securities using the level-yield method. Securities that management may sell if necessary for liquidity or asset management purposes are classified as AFS and reported at fair value, with unrealized gains and losses reported as a component of AOCI within stockholders' equity, net of deferred income taxes. The amortization of premiums and discounts are recognized as adjustments to interest income over the life of the securities using the level-yield method. Gains or losses on the disposition of AFS securities are recognized using the specific identification method. The Company primarily uses prices obtained from third party pricing services to determine the fair value of securities. See additional discussion of fair value of AFS securities in "Note 13. Fair Value of Financial Instruments." Securities that are purchased and held principally for resale in the near future are classified as trading securities and are reported at fair value, with unrealized gains and losses included in non-interest income in the consolidated statements of income. During the fiscal years ended September 30, 2016 and 2015, neither the Company nor the Bank maintained a trading securities portfolio. Management monitors the securities portfolio for impairment on an ongoing basis and performs a formal review quarterly. The process involves monitoring market events and other items that could impact issuers. The evaluation includes, but is not limited to, such factors as: the nature of the investment, the length of time the security has had a fair value less than the amortized cost basis, the cause(s) and severity of the loss, expectation of an anticipated recovery period, recent events specific to the issuer or industry including the issuer's financial condition and current ability to make future payments in a timely manner, external credit ratings and recent downgrades in such ratings, management's intent to sell and whether it is more likely than not management would be required to sell prior to recovery for debt securities. Management determines whether other-than-temporary losses should be recognized for impaired securities by assessing all known facts and circumstances surrounding the securities. If management intends to sell an impaired security or if it is more likely than not that management will be required to sell an impaired security before recovery of its amortized cost basis, an other-than-temporary impairment has occurred and the difference between amortized cost and fair value will be recognized as a loss in earnings and the security will be written down to fair value. |
Loans Receivable | Loans Receivable - Loans receivable that management has the intent and ability to hold for the foreseeable future are carried at the amount of unpaid principal, net of ACL, undisbursed loan funds, unamortized premiums and discounts, and deferred loan origination fees and costs. Net loan origination fees and costs, and premiums and discounts are amortized as yield adjustments to interest income using the level-yield method. Interest on loans is credited to income as earned and accrued only if deemed collectible. Troubled debt restructurings ("TDRs") - For borrowers experiencing financial difficulties, the Bank may grant a concession to the borrower. Generally, the Bank grants a short-term payment concession to borrowers who are experiencing a temporary cash flow problem. The most frequently used concession is to reduce the monthly payment amount for a period of 6 to 12 months, often by requiring payments of only interest and escrow during this period, resulting in an extension of the maturity date of the loan. For more severe situations requiring long-term solutions, the Bank also offers interest rate reductions to currently-offered rates and the capitalization of delinquent interest and/or escrow resulting in an extension of the maturity date of the loan. The Bank does not forgive principal or interest nor does it commit to lend additional funds, except for situations generally involving the capitalization of delinquent interest and/or escrow not to exceed the original loan balance, to these borrowers. Endorsed loans are classified as TDRs when certain guidelines for soft credit scores and/or estimated loan-to-value ("LTV") ratios are not met. These guidelines are intended to identify changes in the borrower's credit condition since origination, signifying the borrower could be experiencing financial difficulties even though the borrower has not been delinquent on his/her contractual loan payment in the previous 12 months. The TDRs discussed above will be reported as such until paid-off, unless the loan has been restructured to an interest rate equal to or greater than the rate the Bank was willing to accept at the time of the restructuring for a new loan with comparable risk, and has performed under the new terms of the restructuring agreement for at least 12 consecutive months. Additionally, loans that have been discharged under Chapter 7 bankruptcy proceedings where the borrower has not reaffirmed the debt owed to the lender ("Chapter 7 loans") are reported as TDRs, regardless of their delinquency status, pursuant to regulatory reporting requirements. These loans will be reported as TDRs until the borrower has made 48 consecutive monthly loan payments after the Chapter 7 discharge date. Delinquent loans - A loan is considered delinquent when payment has not been received within 30 days of its contractual due date. Nonaccrual loans - The accrual of income on loans is discontinued when interest or principal payments are 90 days in arrears. We also report certain TDR loans as nonaccrual loans that are required to be reported as such pursuant to regulatory reporting requirements. Loans on which the accrual of income has been discontinued are designated as nonaccrual and outstanding interest previously credited beyond 90 days delinquent is reversed. A nonaccrual loan is returned to accrual status once the contractual payments have been made to bring the loan less than 90 days past due or, in the case of a TDR loan, the borrower has made the required consecutive loan payments. Impaired loans - A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. Interest income on impaired loans is recognized in the period collected unless the ultimate collection of principal is considered doubtful. The following types of loans are reported as impaired loans: all nonaccrual loans, loans classified as substandard, loans partially charged-off, Chapter 7 loans, and all TDRs except those that have been restructured to an interest rate equal to or greater than the rate the Bank was willing to accept at the time of the restructuring for a new loan with comparable risk, and has performed under the new terms of the restructuring agreement for at least 12 consecutive months. The majority of the Bank's impaired loans are related to one- to four-family properties. Impaired loans related to one- to four-family properties are individually evaluated for loss when the loan becomes 180 days delinquent or at any time management has knowledge of the existence of a potential loss to ensure that the carrying value of the loan is not in excess of the fair value of the collateral, less estimated selling costs. |
Allowance For Credit Losses | Allowance for Credit Losses - The ACL represents management's best estimate of the amount of inherent losses in the loan portfolio as of the balance sheet date. It involves a high degree of complexity and requires management to make difficult and subjective judgments and assumptions about highly uncertain matters. Management's methodology for assessing the appropriateness of the ACL consists of a formula analysis model, along with analyzing several other factors. The use of different judgments and assumptions could cause reported results to differ significantly. Management maintains the ACL through provisions for credit losses that are either charged or credited to income. One- to four-family loans, including home equity loans, are individually evaluated for loss when the loan is generally 180 days delinquent and any losses are charged-off. Losses are based on new collateral values obtained through appraisals, less estimated costs to sell. Anticipated private mortgage insurance proceeds are taken into consideration when calculating the loss amount. An updated appraisal is requested, at a minimum, every 12 months thereafter if the loan is 180 days or more delinquent or in foreclosure. If the Bank holds the first and second mortgage, both loans are combined when evaluating whether there is a potential loss on the loan. For commercial real estate loans, losses are charged-off when the collection of such amounts is determined to be unlikely. When a non-real estate secured loan, which includes consumer loans - other, is 120 days delinquent, any identified losses are charged-off. Charge-offs for any loan type may also occur at any time if the Bank has knowledge of the existence of a potential loss. Loans individually evaluated for loss are excluded from the formula analysis model. The primary risk characteristics inherent in the one- to four-family and consumer loan portfolios are a decline in economic conditions, elevated levels of unemployment or underemployment, and declines in residential real estate values. Any one or a combination of these events may adversely affect borrowers' ability to repay their loans, resulting in increased delinquencies, non-performing assets, loan losses, and future loan loss provisions. Although the commercial real estate loan portfolio is subject to the same risk of declines in economic conditions, the primary risk characteristics inherent in this portfolio include the ability of the borrower to sustain sufficient cash flows from leases and to control expenses to satisfy their contractual debt payments, and/or the ability to utilize personal and/or business resources to pay their contractual debt payments if the cash flows are not sufficient. Additionally, if the Bank were to repossess the secured collateral of a commercial real estate loan, the pool of potential buyers is typically limited more than that for a residential property. This increases the risk that the Bank could hold the property for an extended period of time and/or potentially be forced to sell at a discounted price, resulting in additional losses. Each quarter end, a formula analysis is prepared which segregates the loan portfolio into categories based on certain risk characteristics. The categories include the following: one- to four-family loans; commercial real estate loans; consumer home equity loans; and other consumer loans. Home equity loans with the same underlying collateral as a one- to four-family loan are combined with the one- to four-family loan in the formula analysis model to calculate a combined LTV ratio. The one- to four-family loan portfolio and related home equity loans are segregated into additional categories based on the following risk characteristics: originated, correspondent purchased, or bulk purchased; interest payments (fixed-rate and adjustable-rate); LTV ratios; borrower's credit scores; and certain geographic locations. The categories were derived by management based on reviewing the historical performance of the one- to four-family loan portfolio and taking into consideration current economic conditions, such as trends in residential real estate values in certain areas of the U.S. and unemployment rates. Historical loss factors are applied to each loan category in the formula analysis model. Each quarter end, management reviews historical losses over a look-back time period and utilizes the historical loss time periods believed to be the most appropriate considering the current economic conditions. The historical loss time period is then adjusted for a loss emergence time period, which represents the estimated time period from the date of a loss event to the date we recognize a charge-off/loss. Qualitative loss factors are utilized in the formula analysis model to reflect risks inherent in each loan category that are not captured by the historical loss factors. The qualitative loss factors for one- to four-family and consumer loan portfolios take into consideration such items as: unemployment rate trends, residential real estate value trends, credit score trends, delinquent loan trends, and industry and peer charge-off information. The qualitative loss factors for the commercial real estate loan portfolio take into consideration the composition of the portfolio along with industry and peer charge-off information. As loans are classified or become delinquent, the qualitative loss factors increase for each respective loan category. The qualitative loss factors were derived by management based on a review of the historical performance of the respective loan portfolios and industry and peer information for those loan portfolios with no or limited historical loss experience, along with consideration of current economic conditions and the likely impact such conditions might have to the performance of the loan portfolio. Management utilizes the formula analysis model, along with considering several other data elements when evaluating the adequacy of the ACL. Such data elements include the trend and composition of delinquent loans, trends in foreclosed property and short sale transactions and charge-off activity, the current status and trends of local and national employment levels, trends and current conditions in the real estate and housing markets, loan portfolio growth and concentrations, industry and peer charge-off information, and certain ACL ratios such as ACL to loans receivable, net and annualized historical losses to ACL. Since the Bank's loan portfolio is primarily concentrated in one- to four-family real estate, management monitors residential real estate market value trends in the Bank's local market areas and geographic sections of the U.S. by reference to various industry and market reports, economic releases and surveys, and management's general and specific knowledge of the real estate markets in which the Bank lends, in order to determine what impact, if any, such trends may have on the level of ACL. Reviewing these data elements assists management in evaluating the overall credit quality of the loan portfolio and the reasonableness of the ACL on an ongoing basis, and whether changes need to be made to the Bank's ACL methodology. Management seeks to apply the ACL methodology in a consistent manner; however, the methodology can be modified in response to changing conditions. Although management believes the ACL was at a level adequate to absorb inherent losses in the loan portfolio at September 30, 2016, the level of the ACL remains an estimate that is subject to significant judgment and short-term changes. |
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock - As a member of FHLB Topeka, the Bank is required to acquire and hold shares of FHLB stock. The Bank's holding requirement varies based on the Bank's activities, primarily the Bank's outstanding borrowings, with FHLB. FHLB stock is carried at cost and is considered a restricted asset because it cannot be pledged as collateral or bought or sold on the open market and it also has certain redemption restrictions. Management conducts a quarterly evaluation to determine if any FHLB stock impairment exists. The quarterly impairment evaluation focuses primarily on the capital adequacy and liquidity of FHLB, while also considering the impact that legislative and regulatory developments may have on FHLB. Stock and cash dividends received on FHLB stock are reflected as dividend income in the consolidated statements of income. |
Premises and Equipment | Premises and Equipment - Land is carried at cost. Buildings, leasehold improvements, and furniture, fixtures and equipment are carried at cost less accumulated depreciation and leasehold amortization. Buildings, furniture, fixtures and equipment are depreciated over their estimated useful lives using the straight-line method. Buildings have an estimated useful life of 39 years. Structural components of the buildings generally have an estimated life of 15 years. Furniture, fixtures and equipment have an estimated useful life of three to seven years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the respective leases, which is generally three to 15 years. The costs for major improvements and renovations are capitalized, while maintenance, repairs and minor improvements are charged to operating expenses as incurred. Gains and losses on dispositions are recorded as non-interest income or non-interest expense as incurred. |
Income Taxes | Income Taxes - The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. Deferred income tax expense (benefit) represents the change in deferred income tax assets and liabilities excluding the tax effects of the change in net unrealized gain (loss) on AFS securities and changes in the market value of restricted stock between the grant date and vesting date. Income tax related penalties and interest are included in income tax expense in the consolidated statements of income. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Certain tax benefits attributable to stock options and restricted stock are credited to additional paid-in capital. To the extent that management considers it more likely than not that a deferred tax asset will not be recovered, a valuation allowance is recorded. All positive and negative evidence is reviewed in determining how much of a valuation allowance is recognized on a quarterly basis. Certain accounting literature prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of an uncertain tax position taken, or expected to be taken, in a tax return. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense in the consolidated statements of income. Accrued interest and penalties related to unrecognized tax benefits are included within the related tax liabilities line in the consolidated balance sheet. |
Employee Stock Ownership Plan | Employee Stock Ownership Plan - The funds borrowed by the ESOP from the Company to purchase the Company's common stock are being repaid from dividends paid on unallocated ESOP shares and, if necessary, contributions by the Bank. The shares pledged as collateral are reported as a reduction of stockholders' equity at cost. As ESOP shares are committed to be released from collateral each quarter, the Company records compensation expense based on the average market price of the Company's stock during the quarter. Additionally, the shares become outstanding for EPS computations once they are committed to be released. The eligibility criteria for participation in the Company's ESOP is a minimum of one year of service, at least age 21 , and at least 1,000 hours of employment in each plan year. |
Stock-based Compensation | Stock-based Compensation - The Company has share-based plans under which stock options and restricted stock awards have been granted. Compensation expense is recognized over the service period of the share-based payment award. The Company utilizes a fair-value-based measurement method in accounting for the share-based payment transactions with employees, except for equity instruments held by the ESOP. The Company applies the modified prospective method in which compensation cost is recognized over the service period for all awards granted. |
Borrowed Funds | Borrowed Funds - The Bank has entered into repurchase agreements, which are sales of securities under agreements to repurchase, with approved counterparties. These agreements are recorded as financing transactions, and thereby reported as liabilities on the consolidated balance sheet, as the Bank maintains effective control over the transferred securities and the securities continue to be carried in the Bank's securities portfolio. The Bank has obtained borrowings from FHLB in the form of advances and a line of credit. Total FHLB borrowings are secured by certain qualifying loans pursuant to a blanket collateral agreement with FHLB and certain securities, as necessary. Additionally, the Bank is authorized to borrow from the Federal Reserve Bank's "discount window." |
Segment Information | Segment Information - As a community-oriented financial institution, substantially all of the Bank's operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of these community banking operations, which constitute the Company's only operating segment for financial reporting purposes. |
Low Income Housing Partnerships | Low Income Housing Partnerships - As part of the Bank's community reinvestment initiatives, the Bank invests in affordable housing limited partnerships ("low income housing partnerships") that make equity investments in affordable housing properties. The Bank is a limited partner in each partnership in which it invests. A separate, unrelated third party is the general partner. The Bank receives affordable housing tax credits and other tax benefits for these investments. Two of the Bank's officers are involved in the operational management of the low income housing partnership investment group. The Bank accounts for substantially all of its investments in these partnerships using the equity method of accounting. See "Note 6. Low Income Housing Partnerships" for additional information. |
Earnings Per Share | Earnings Per Share - Basic EPS is computed by dividing income available to common stockholders by the weighted average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock (such as stock options) were exercised or resulted in the issuance of common stock. These potentially dilutive shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. Shares issued and shares reacquired during any period are weighted for the portion of the period that they were outstanding. In computing both basic and diluted EPS, the weighted average number of common shares outstanding includes the ESOP shares previously allocated to participants and shares committed to be released for allocation to participants and restricted stock shares which have vested or have been allocated to participants. ESOP shares that have not been committed to be released are excluded from the computation of basic and diluted EPS. Unvested restricted stock awards contain nonforfeitable rights to dividends and are treated as participating securities in the computation of EPS pursuant to the two-class method. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements - In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers . The ASU, as amended, clarifies principles for recognizing revenue and provides a common revenue standard for GAAP and International Financial Reporting Standards. Additionally, the ASU provides implementation guidance on several topics and requires entities to disclose both quantitative and qualitative information regarding contracts with customers. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within that reporting period, which is October 1, 2018 for the Company. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016. The Company has not yet completed its evaluation of ASU 2014-09. In January 2016, the FASB issued ASU 2016-01, Financial Instruments, Recognition and Measurement of Financial Assets and Liabilities . The ASU supersedes certain accounting guidance related to equity securities with readily determinable fair values and the related impairment assessment. An entity's equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this ASU. The ASU requires public business entities to utilize the exit price notation in determining fair value for financial instruments measured at amortized cost on the balance sheet. The ASU requires additional reporting in other comprehensive income for financial liabilities measured at fair value in accordance with the fair value option. The ASU also requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balances or in the notes to the financial statements. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods with those fiscal years, which is October 1, 2018 for the Company. Early adoption is not permitted except in certain circumstances. The Company has not yet completed its evaluation of ASU 2016-01. In February 2016, the FASB issued ASU 2016-02, Leases . The ASU amends lease accounting guidance by requiring that lessees recognize the assets and liabilities arising from leases on the balance sheet. Additionally, the ASU requires entities to disclose both quantitative and qualitative information regarding their leasing activities. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, which is October 1, 2019 for the Company. Early adoption is permitted. The Company has not yet completed its evaluation of ASU 2016-02. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting . The ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, along with simplifying the classification in the statement of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods, which is October 1, 2017 for the Company. The Company has not yet completed its evaluation of ASU 2016-09. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . The ASU replaces the incurred loss impairment methodology in current GAAP, which requires credit losses to be recognized when it is probable that a loss has incurred, with a new impairment methodology. The new impairment methodology requires an entity to measure, at each reporting date, the expected credit losses of financial assets not measured at fair value, such as loans, HTM debt securities, and loan commitments, over their contractual lives. Under the new impairment methodology, expected credit losses will be measured at each reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Additionally, the ASU amends the current credit loss measurements for AFS debt securities. Credit losses related to AFS debt securities will be recorded through the ACL rather than as a direct write-down as per current GAAP. The ASU also requires enhanced disclosures related to credit quality and significant estimates and judgments used by management when estimating credit losses. The ASU is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods, which is October 1, 2020 for the Company. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has not yet completed its evaluation of ASU 2016-13. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule Of Earnings Per Share, Basic And Diluted | For the Year Ended September 30, 2016 2015 2014 (Dollars in thousands, except per share amounts) Net income $ 83,494 $ 78,093 $ 77,694 Income allocated to participating securities (66 ) (116 ) (176 ) Net income available to common stockholders $ 83,428 $ 77,977 $ 77,518 Average common shares outstanding 132,982,815 135,321,235 139,377,615 Average committed ESOP shares outstanding 62,400 62,458 62,458 Total basic average common shares outstanding 133,045,215 135,383,693 139,440,073 Effect of dilutive stock options 131,161 24,810 1,891 Total diluted average common shares outstanding 133,176,376 135,408,503 139,441,964 Net EPS: Basic $ 0.63 $ 0.58 $ 0.56 Diluted $ 0.63 $ 0.58 $ 0.56 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 886,417 1,248,744 2,060,748 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Marketable Securities [Abstract] | |
Amortized Cost, Estimated Fair Value, and Gross Unrealized Gains and Losses Of AFS Securities | September 30, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 346,226 $ 815 $ 3 $ 347,038 MBS 169,442 9,069 4 178,507 Trust preferred securities 2,123 — 367 1,756 $ 517,791 $ 9,884 $ 374 $ 527,301 HTM: MBS $ 1,067,571 $ 22,862 $ 1,219 $ 1,089,214 Municipal bonds 33,303 357 7 33,653 $ 1,100,874 $ 23,219 $ 1,226 $ 1,122,867 September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 525,376 $ 1,304 $ 60 $ 526,620 MBS 217,006 12,489 4 229,491 Trust preferred securities 2,186 — 270 1,916 Municipal bonds 140 4 — 144 $ 744,708 $ 13,797 $ 334 $ 758,171 HTM: MBS $ 1,233,048 $ 27,325 $ 3,590 $ 1,256,783 Municipal bonds 38,074 437 20 38,491 $ 1,271,122 $ 27,762 $ 3,610 $ 1,295,274 |
Amortized Cost, Estimated Fair Value, and Gross Unrealized Gains and Losses Of HTM Securities | September 30, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 346,226 $ 815 $ 3 $ 347,038 MBS 169,442 9,069 4 178,507 Trust preferred securities 2,123 — 367 1,756 $ 517,791 $ 9,884 $ 374 $ 527,301 HTM: MBS $ 1,067,571 $ 22,862 $ 1,219 $ 1,089,214 Municipal bonds 33,303 357 7 33,653 $ 1,100,874 $ 23,219 $ 1,226 $ 1,122,867 September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: GSE debentures $ 525,376 $ 1,304 $ 60 $ 526,620 MBS 217,006 12,489 4 229,491 Trust preferred securities 2,186 — 270 1,916 Municipal bonds 140 4 — 144 $ 744,708 $ 13,797 $ 334 $ 758,171 HTM: MBS $ 1,233,048 $ 27,325 $ 3,590 $ 1,256,783 Municipal bonds 38,074 437 20 38,491 $ 1,271,122 $ 27,762 $ 3,610 $ 1,295,274 |
Schedule Of Estimated Fair Value And Gross Unrealized Losses Of Securities In Continuous Unrealized Loss Position | September 30, 2016 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: GSE debentures $ 24,997 $ 3 $ — $ — MBS — — 654 4 Trust preferred securities — — 1,756 367 $ 24,997 $ 3 $ 2,410 $ 371 HTM: MBS $ 147,930 $ 538 $ 66,646 $ 681 Municipal bonds 4,771 6 391 1 $ 152,701 $ 544 $ 67,037 $ 682 September 30, 2015 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: GSE debentures $ 39,135 $ 15 $ 49,955 $ 45 MBS — — 687 4 Trust preferred securities — — 1,916 270 $ 39,135 $ 15 $ 52,558 $ 319 HTM: MBS $ 38,604 $ 134 $ 302,158 $ 3,456 Municipal bonds 3,292 12 1,128 8 $ 41,896 $ 146 $ 303,286 $ 3,464 |
Schedule Of Contractual Maturities | AFS HTM Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) One year or less $ 25,040 $ 25,081 $ 5,196 $ 5,217 One year through five years 321,186 321,957 22,152 22,346 Five years through ten years — — 5,955 6,090 Ten years and thereafter 2,123 1,756 — — 348,349 348,794 33,303 33,653 MBS 169,442 178,507 1,067,571 1,089,214 $ 517,791 $ 527,301 $ 1,100,874 $ 1,122,867 |
Schedule Of Taxable And Non-taxable Components Of Interest Income | For the Year Ended September 30, 2016 2015 2014 (Dollars in thousands) Taxable $ 5,255 $ 6,431 $ 6,440 Non-taxable 670 751 945 $ 5,925 $ 7,182 $ 7,385 |
Schedule Of Carrying Value Of Securities Pledged As Collateral | September 30, 2016 2015 (Dollars in thousands) Public unit deposits $ 419,282 $ 343,385 Repurchase agreements 217,374 218,832 Federal Reserve Bank 15,938 20,600 FHLB borrowings — 216,607 $ 652,594 $ 799,424 |
Loans Receivable And Allowanc28
Loans Receivable And Allowance For Credit Losses (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary of Loans Receivable | 2016 2015 (Dollars in thousands) Real estate loans: One- to four-family: Originated $ 6,211,687 $ 5,856,634 Purchased 416,653 485,682 Construction 39,430 29,552 Total 6,667,770 6,371,868 Commercial: Permanent 110,768 109,314 Construction 43,375 11,523 Total 154,143 120,837 Total real estate loans 6,821,913 6,492,705 Consumer loans: Home equity 123,345 125,844 Other 4,264 4,179 Total consumer loans 127,609 130,023 Total loans receivable 6,949,522 6,622,728 Less: ACL 8,540 9,443 Discounts/unearned loan fees 24,933 24,213 Premiums/deferred costs (41,975 ) (35,955 ) $ 6,958,024 $ 6,625,027 |
Recorded Investment in Loans, Past Due | September 30, 2016 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family - originated $ 16,934 $ 9,145 $ 26,079 $ 6,240,953 $ 6,267,032 One- to four-family - purchased 5,082 7,380 12,462 406,379 418,841 Commercial real estate — — — 153,082 153,082 Consumer - home equity 635 520 1,155 122,190 123,345 Consumer - other 62 9 71 4,193 4,264 $ 22,713 $ 17,054 $ 39,767 $ 6,926,797 $ 6,966,564 September 30, 2015 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family - originated $ 19,285 $ 7,093 $ 26,378 $ 5,869,289 $ 5,895,667 One- to four-family - purchased 7,305 8,956 16,261 472,114 488,375 Commercial real estate — — — 120,405 120,405 Consumer - home equity 703 497 1,200 124,644 125,844 Consumer - other 17 12 29 4,150 4,179 $ 27,310 $ 16,558 $ 43,868 $ 6,590,602 $ 6,634,470 |
Recorded Investment in Loans, Nonaccrual | September 30, 2016 2015 (Dollars in thousands) One- to four-family - originated $ 20,874 $ 16,093 One- to four-family - purchased 7,411 9,038 Commercial real estate — — Consumer - home equity 848 792 Consumer - other 10 12 $ 29,143 $ 25,935 |
Recorded Investment in Classified Loans | September 30, 2016 2015 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family - originated $ 12,738 $ 32,986 $ 16,149 $ 29,282 One- to four-family - purchased 1,156 11,480 1,376 13,237 Commercial real estate — — — — Consumer - home equity 54 1,431 151 1,301 Consumer - other 8 16 — 17 $ 13,956 $ 45,913 $ 17,676 $ 43,837 |
Weighted Average Loan-to-Value and Credit Score Information | September 30, 2016 2015 Credit Score LTV Credit Score LTV One- to four-family - originated 765 65 % 765 65 % One- to four-family - purchased 753 64 752 65 Consumer - home equity 755 20 753 18 764 64 764 64 |
Troubled Debt Restructurings on Financing Receivables | For the Year Ended September 30, 2016 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 134 $ 19,793 $ 20,176 One- to four-family - purchased 3 596 594 Commercial real estate — — — Consumer - home equity 19 427 433 Consumer - other 1 8 8 157 $ 20,824 $ 21,211 For the Year Ended September 30, 2015 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 143 $ 17,811 $ 18,010 One- to four-family - purchased 4 1,140 1,144 Commercial real estate — — — Consumer - home equity 22 479 485 Consumer - other 3 12 12 172 $ 19,442 $ 19,651 For the Year Ended September 30, 2014 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family - originated 145 $ 17,721 $ 17,785 One- to four-family - purchased 7 1,054 1,056 Commercial real estate — — — Consumer - home equity 6 100 101 Consumer - other — — — 158 $ 18,875 $ 18,942 For the Years Ended September 30, 2016 September 30, 2015 September 30, 2014 Number of Recorded Number of Recorded Number of Recorded Contracts Investment Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family - originated 51 $ 5,878 52 $ 5,743 38 $ 4,112 One- to four-family - purchased — — 4 890 3 780 Commercial real estate — — — — — — Consumer - home equity 6 174 4 33 2 56 Consumer - other — — 1 5 — — 57 $ 6,052 61 $ 6,671 43 $ 4,948 |
Impaired Loans by Class | September 30, 2016 September 30, 2015 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance ACL Investment Balance ACL (Dollars in thousands) With no related allowance recorded One- to four-family - originated $ 25,945 $ 26,590 $ — $ 11,169 $ 11,857 $ — One- to four-family - purchased 10,985 12,684 — 11,035 13,315 — Commercial real estate — — — — — — Consumer - home equity 1,014 1,230 — 591 837 — Consumer - other 10 42 — 13 40 — 37,954 40,546 — 22,808 26,049 — With an allowance recorded One- to four-family - originated 16,092 16,140 129 26,453 26,547 294 One- to four-family - purchased 1,650 1,627 49 3,764 3,731 110 Commercial real estate — — — — — — Consumer - home equity 548 548 38 869 870 62 Consumer - other 6 6 1 10 10 1 18,296 18,321 217 31,096 31,158 467 Total One- to four-family - originated 42,037 42,730 129 37,622 38,404 294 One- to four-family - purchased 12,635 14,311 49 14,799 17,046 110 Commercial real estate — — — — — — Consumer - home equity 1,562 1,778 38 1,460 1,707 62 Consumer - other 16 48 1 23 50 1 $ 56,250 $ 58,867 $ 217 $ 53,904 $ 57,207 $ 467 For the Years Ended September 30, 2016 September 30, 2015 September 30, 2014 Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized (Dollars in thousands) With no related allowance recorded One- to four-family - originated $ 12,558 $ 488 $ 12,215 $ 461 $ 13,455 $ 416 One- to four-family - purchased 11,022 196 11,153 196 13,305 212 Commercial real estate — — — — — — Consumer - home equity 628 93 485 29 567 33 Consumer - other 13 1 12 — 6 — 24,221 778 23,865 686 27,333 661 With an allowance recorded One- to four-family - originated 26,868 1,033 27,224 1,079 28,171 1,117 One- to four-family - purchased 2,219 27 2,960 40 2,334 53 Commercial real estate — — — — 17 1 Consumer - home equity 895 64 795 34 558 22 Consumer - other 13 1 15 2 12 — 29,995 1,125 30,994 1,155 31,092 1,193 Total One- to four-family - originated 39,426 1,521 39,439 1,540 41,626 1,533 One- to four-family - purchased 13,241 223 14,113 236 15,639 265 Commercial real estate — — — — 17 1 Consumer - home equity 1,523 157 1,280 63 1,125 55 Consumer - other 26 2 27 2 18 — $ 54,216 $ 1,903 $ 54,859 $ 1,841 $ 58,425 $ 1,854 |
Allowance for Credit Losses | For the Year Ended September 30, 2016 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 Charge-offs (200 ) (342 ) (542 ) — (88 ) (630 ) Recoveries 77 374 451 — 26 477 Provision for credit losses (827 ) (401 ) (1,228 ) 466 12 (750 ) Ending balance $ 6,030 $ 1,065 $ 7,095 $ 1,208 $ 237 $ 8,540 For the Year Ended September 30, 2015 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 6,263 $ 2,323 $ 8,586 $ 400 $ 241 $ 9,227 Charge-offs (435 ) (228 ) (663 ) — (72 ) (735 ) Recoveries 56 58 114 — 66 180 Provision for credit losses 1,096 (719 ) 377 342 52 771 Ending balance $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 For the Year Ended September 30, 2014 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Beginning balance $ 5,771 $ 2,486 $ 8,257 $ 185 $ 380 $ 8,822 Charge-offs (380 ) (653 ) (1,033 ) — (109 ) (1,142 ) Recoveries 1 64 65 — 73 138 Provision for credit losses 871 426 1,297 215 (103 ) 1,409 Ending balance $ 6,263 $ 2,323 $ 8,586 $ 400 $ 241 $ 9,227 September 30, 2016 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 6,237,097 $ 407,833 $ 6,644,930 $ 153,082 $ 126,504 $ 6,924,516 Recorded investment in loans individually evaluated for impairment 29,935 11,008 40,943 — 1,105 42,048 $ 6,267,032 $ 418,841 $ 6,685,873 $ 153,082 $ 127,609 $ 6,966,564 ACL for loans collectively evaluated for impairment $ 6,030 $ 1,065 $ 7,095 $ 1,208 $ 237 $ 8,540 September 30, 2015 One- to Four- One- to Four- One- to Four- Family - Family - Family - Commercial Originated Purchased Total Real Estate Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 5,884,498 $ 477,340 $ 6,361,838 $ 120,405 $ 129,419 $ 6,611,662 Recorded investment in loans individually evaluated for impairment 11,169 11,035 22,204 — 604 22,808 $ 5,895,667 $ 488,375 $ 6,384,042 $ 120,405 $ 130,023 $ 6,634,470 ACL for loans collectively evaluated for impairment $ 6,980 $ 1,434 $ 8,414 $ 742 $ 287 $ 9,443 |
Premises And Equipment, Net (Ta
Premises And Equipment, Net (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment, Net [Abstract] | |
Summary Of The Carrying Value Of Banking Premises And Equipment | 2016 2015 (Dollars in thousands) Land $ 11,065 $ 11,055 Building and improvements 91,700 82,928 Furniture, fixtures and equipment 42,590 42,731 145,355 136,714 Less accumulated depreciation 62,134 60,904 $ 83,221 $ 75,810 |
Schedule Of Future Minimum Rental Commitments | 2017 $ 1,106 2018 1,107 2019 993 2020 751 2021 655 Thereafter 2,525 $ 7,137 |
Deposits and Borrowed Funds (Ta
Deposits and Borrowed Funds (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Deposits and Borrowed Funds [Abstract] | |
FHLB Advances | 2016 2015 (Dollars in thousands) Fixed-rate FHLB advances $ 2,375,000 $ 2,575,000 Deferred prepayment penalty (2,611 ) (4,479 ) $ 2,372,389 $ 2,570,521 Weighted average contractual interest rate on FHLB advances 2.17 % 2.09 % Weighted average effective interest rate on FHLB advances (1) 2.24 2.24 (1) The effective interest rate includes the net impact of deferred amounts related to certain FHLB advances. |
Maturity of Borrowed Funds and Certificates of Deposit | FHLB Repurchase Certificates Advances Agreements of Deposit Amount Amount Amount (Dollars in thousands) 2017 $ 500,000 $ — $ 1,172,398 2018 375,000 100,000 562,007 2019 400,000 — 492,691 2020 250,000 100,000 454,991 2021 550,000 — 143,761 Thereafter 300,000 — 2,284 $ 2,375,000 $ 200,000 $ 2,828,132 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Income Tax Expense | 2016 2015 2014 (Dollars in thousands) Current: Federal $ 33,298 $ 30,079 $ 32,137 State 4,677 4,395 3,215 37,975 34,474 35,352 Deferred: Federal 286 2,869 2,121 State 184 332 (15 ) 470 3,201 2,106 $ 38,445 $ 37,675 $ 37,458 |
Differences Between Effective Rates And Statutory Federal Income Tax Rate Computed On Income Before Income Tax Expense | 2016 2015 2014 Amount % Amount % Amount % (Dollars in thousands) Federal income tax expense computed at statutory Federal rate $ 42,679 35.0 % $ 40,519 35.0 % $ 40,303 35.0 % Increases (decreases) in taxes resulting from: State taxes, net of Federal tax effect 3,308 2.7 3,257 2.8 3,200 2.8 Low income housing tax credits (4,815 ) (4.0 ) (4,316 ) (3.7 ) (3,580 ) (3.1 ) ESOP related expenses, net (1,127 ) (0.9 ) (1,222 ) (1.1 ) (1,550 ) (1.4 ) Other (1,600 ) (1.3 ) (563 ) (0.5 ) (915 ) (0.8 ) $ 38,445 31.5 % $ 37,675 32.5 % $ 37,458 32.5 % |
Deferred Income Tax Expense (Benefit) Results From Temporary Differences In Recognition Of Revenue And Expenses For Tax | 2016 2015 2014 (Dollars in thousands) Premises and equipment $ 1,593 $ (129 ) $ (388 ) ACL 480 (75 ) (37 ) FHLB stock dividends (1,357 ) 4,083 (832 ) Low income housing partnerships (318 ) (763 ) (50 ) Capitol Federal Foundation contribution — 418 3,768 Other, net 72 (333 ) (355 ) $ 470 $ 3,201 $ 2,106 |
Components Of Net Deferred Income Tax Liabilities | 2016 2015 (Dollars in thousands) Deferred income tax assets: Salaries and employee benefits $ 2,050 $ 2,194 Low income housing partnerships 1,763 1,445 ESOP compensation 1,566 1,393 ACL 896 1,376 Other 3,498 3,652 Gross deferred income tax assets 9,773 10,060 Valuation allowance (1,804 ) (1,807 ) Gross deferred income tax asset, net of valuation allowance 7,969 8,253 Deferred income tax liabilities: FHLB stock dividends 23,238 24,595 Premises and equipment 6,091 4,498 Unrealized gain on AFS securities 3,595 5,089 Other 419 462 Gross deferred income tax liabilities 33,343 34,644 Net deferred tax liabilities $ 25,374 $ 26,391 |
ESOP (Tables)
ESOP (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | |
Summary Of Shares Held In The ESOP Trust | 2016 2015 (Dollars in thousands) Allocated ESOP shares 4,392,371 4,490,885 Unreleased ESOP shares 3,964,752 4,129,950 Total ESOP shares 8,357,123 8,620,835 Fair value of unreleased ESOP shares $ 55,784 $ 50,055 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Outstanding To Originate, Purchase, Or Participate In Loans | 2016 2015 (Dollars in thousands) Originate fixed-rate $ 68,047 $ 54,555 Originate adjustable-rate 12,257 16,164 Purchase/participate fixed-rate 138,792 128,334 Purchase/participate adjustable-rate 18,653 13,785 $ 237,749 $ 212,838 |
Regulatory Capital Requiremen34
Regulatory Capital Requirements (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Regulatory Capital Requirements [Abstract] | |
Summary Of Capital And Total Risk-Based Capital Ratios | To Be Well Capitalized Under Prompt For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank As of September 30, 2016 Tier 1 leverage ratio $ 1,234,912 10.9 % $ 452,339 4.0 % $ 565,424 5.0 % CET1 capital ratio 1,234,912 28.5 195,080 4.5 281,783 6.5 Tier 1 capital ratio 1,234,912 28.5 260,107 6.0 346,809 8.0 Total capital ratio 1,243,452 28.7 346,809 8.0 433,512 10.0 As of September 30, 2015 Tier 1 leverage ratio 1,266,054 11.3 447,986 4.0 559,982 5.0 CET1 capital ratio 1,266,054 30.0 189,663 4.5 273,958 6.5 Tier 1 capital ratio 1,266,054 30.0 252,885 6.0 337,179 8.0 Total capital ratio 1,275,497 30.3 337,179 8.0 421,474 10.0 Company As of September 30, 2016 Tier 1 leverage ratio 1,387,049 12.3 452,248 4.0 N/A N/A CET1 capital ratio 1,387,049 32.0 195,094 4.5 N/A N/A Tier 1 capital ratio 1,387,049 32.0 260,126 6.0 N/A N/A Total capital ratio 1,395,589 32.2 346,835 8.0 N/A N/A As of September 30, 2015 Tier 1 leverage ratio 1,407,852 12.6 448,003 4.0 N/A N/A CET1 capital ratio 1,407,852 33.4 189,946 4.5 N/A N/A Tier 1 capital ratio 1,407,852 33.4 253,262 6.0 N/A N/A Total capital ratio 1,417,295 33.6 337,683 8.0 N/A N/A |
Fair Value Of Financial Instr35
Fair Value Of Financial Instruments (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Fair Value Assets Measured On A Recurring Basis | September 30, 2016 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) AFS Securities: GSE debentures $ 347,038 $ — $ 347,038 $ — MBS 178,507 — 178,507 — Trust preferred securities 1,756 — — 1,756 $ 527,301 $ — $ 525,545 $ 1,756 September 30, 2015 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) AFS Securities: GSE debentures $ 526,620 $ — $ 526,620 $ — MBS 229,491 — 229,491 — Municipal bonds 144 — 144 — Trust preferred securities 1,916 — — 1,916 $ 758,171 $ — $ 756,255 $ 1,916 The Company's Level 3 AFS securities had no activity during fiscal years 2016, 2015, and 2014 except for principal repayments of $97 thousand , $400 thousand , and $150 thousand , respectively, and increases in net unrealized losses included in other comprehensive income of $61 thousand , $45 thousand , and $16 thousand , respectively. |
Schedule Of Fair Value Assets Measured On A Non-recurring Basis | September 30, 2016 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Loans individually evaluated for impairment $ 41,995 $ — $ — $ 41,995 OREO 3,734 — — 3,734 $ 45,729 $ — $ — $ 45,729 September 30, 2015 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Loans individually evaluated for impairment $ 22,762 $ — $ — $ 22,762 OREO 4,333 — — 4,333 $ 27,095 $ — $ — $ 27,095 |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | 2016 2015 Estimated Estimated Carrying Fair Carrying Fair Amount Value Amount Value (Dollars in thousands) Assets: Cash and cash equivalents $ 281,764 $ 281,764 $ 772,632 $ 772,632 AFS securities 527,301 527,301 758,171 758,171 HTM securities 1,100,874 1,122,867 1,271,122 1,295,274 Loans receivable 6,958,024 7,292,971 6,625,027 6,870,176 FHLB stock 109,970 109,970 150,543 150,543 Liabilities: Deposits 5,164,018 5,204,251 4,832,520 4,869,312 FHLB borrowings 2,372,389 2,434,151 3,270,521 3,339,650 Repurchase agreements 200,000 207,303 200,000 209,807 |
Selected Quarterly Financial 36
Selected Quarterly Financial Data (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Selected Quarterly Financial Information [Abstract] | |
Summary Of Quarterly Data | First Second Third Fourth Quarter Quarter Quarter Quarter Total (Dollars and counts in thousands, except per share amounts) 2016 Total interest and dividend income $ 74,359 $ 75,632 $ 75,527 $ 75,595 $ 301,113 Net interest and dividend income 47,982 48,538 47,930 47,732 192,182 Provision for credit losses — — — (750 ) (750 ) Net income 20,718 21,527 20,551 20,698 83,494 Basic EPS 0.16 0.16 0.15 0.16 0.63 Diluted EPS 0.16 0.16 0.15 0.16 0.63 Dividends declared per share 0.335 0.085 0.335 0.085 0.84 Average number of basic shares outstanding 132,822 132,960 133,102 133,296 133,045 Average number of diluted shares outstanding 132,911 133,031 133,251 133,493 133,176 2015 Total interest and dividend income $ 74,900 $ 73,877 $ 74,174 $ 74,411 $ 297,362 Net interest and dividend income 48,036 46,779 47,013 47,940 189,768 Provision for credit losses 173 275 323 — 771 Net income 20,472 19,234 19,602 18,785 78,093 Basic EPS 0.15 0.14 0.14 0.14 0.58 Diluted EPS 0.15 0.14 0.14 0.14 0.58 Dividends declared per share 0.335 0.085 0.335 0.085 0.84 Average number of basic shares outstanding 136,088 136,208 135,746 133,515 135,384 Average number of diluted shares outstanding 136,116 136,246 135,763 133,533 135,409 |
Parent Company Financial Info37
Parent Company Financial Information (Parent Company Only) (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule Of Balance Sheets | BALANCE SHEETS SEPTEMBER 30, 2016 and 2015 (Dollars in thousands, except per share amounts) 2016 2015 ASSETS: Cash and cash equivalents $ 108,197 $ 96,171 Investment in the Bank 1,240,827 1,274,429 Note receivable - ESOP 43,790 44,984 Other assets 389 420 Income taxes receivable, net — 318 TOTAL ASSETS $ 1,393,203 $ 1,416,322 LIABILITIES: Income taxes payable, net $ 128 $ — Accounts payable and accrued expenses 74 60 Deferred income tax liabilities, net 37 36 Total liabilities 239 96 STOCKHOLDERS' EQUITY: Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding — — Common stock, $.01 par value; 1,400,000,000 shares authorized, 137,486,172 and 137,106,822 shares issued and outstanding as of September 30, 2016 and 2015, respectively 1,375 1,371 Additional paid-in capital 1,156,855 1,151,041 Unearned compensation - ESOP (39,647 ) (41,299 ) Retained earnings 268,466 296,739 AOCI, net of tax 5,915 8,374 Total stockholders' equity 1,392,964 1,416,226 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,393,203 $ 1,416,322 |
Schedule Of Statements Of Income | STATEMENTS OF INCOME YEARS ENDED SEPTEMBER 30, 2016, 2015, and 2014 (Dollars in thousands) 2016 2015 2014 INTEREST AND DIVIDEND INCOME: Dividend income from the Bank $ 117,513 $ 115,359 $ 145,276 Interest income from other investments 1,725 1,835 2,004 Total interest and dividend income 119,238 117,194 147,280 NON-INTEREST EXPENSE: Salaries and employee benefits 827 835 774 Regulatory and outside services 261 243 248 Other non-interest expense 558 517 606 Total non-interest expense 1,646 1,595 1,628 INCOME BEFORE INCOME TAX EXPENSE AND EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY 117,592 115,599 145,652 INCOME TAX EXPENSE 28 84 132 INCOME BEFORE EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY 117,564 115,515 145,520 EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY (34,070 ) (37,422 ) (67,826 ) NET INCOME $ 83,494 $ 78,093 $ 77,694 |
Schedule Of Statements Of Cash Flows | STATEMENTS OF CASH FLOWS YEARS ENDED SEPTEMBER 30, 2016, 2015, and 2014 (Dollars in thousands) 2016 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 83,494 $ 78,093 $ 77,694 Adjustments to reconcile net income to net cash provided by operating activities: Equity in excess of distribution over earnings of subsidiary 34,070 37,422 67,826 Depreciation of equipment 30 30 2 Provision for deferred income taxes 2 428 3,768 Changes in: Other assets 1 35 166 Income taxes receivable/payable 445 3,300 (562 ) Accounts payable and accrued expenses 14 1 (12 ) Net cash flows provided by operating activities 118,056 119,309 148,882 CASH FLOWS FROM INVESTING ACTIVITIES: Principal collected on notes receivable from ESOP 1,194 1,156 1,120 Purchase of equipment — — (370 ) Net cash flows provided by investing activities 1,194 1,156 750 CASH FLOWS FROM FINANCING ACTIVITIES: Net payment from subsidiary related to restricted stock awards 473 95 243 Dividends paid (111,767 ) (114,162 ) (138,172 ) Repurchase of common stock — (50,034 ) (79,633 ) Stock options exercised 4,070 267 458 Net cash flows used in financing activities (107,224 ) (163,834 ) (217,104 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 12,026 (43,369 ) (67,472 ) CASH AND CASH EQUIVALENTS: Beginning of year 96,171 139,540 207,012 End of year $ 108,197 $ 96,171 $ 139,540 |
Summary Of Significant Accoun38
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions | 12 Months Ended | |
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | |
Summary Of Significant Accounting Policies [Line Items] | ||
Interest-bearing deposits held at the Federal Reserve Bank | $ 264.4 | $ 762 |
Average daily balance of required reserves at the Federal Reserve Bank | $ 8.8 | $ 8.7 |
Traditional Banking Offices [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Number of Stores | 37 | |
In-Store Banking Offices [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Number of Stores | 10 | |
Building [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 39 years | |
Structural Building Components [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 15 years | |
Maximum [Member] | Furniture, Fixtures And Equipment [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 7 years | |
Maximum [Member] | Leasehold Improvements [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 15 years | |
Minimum [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Period of service required for ESOP eligibility | 1 year | |
Employee age required for ESOP eligibility, years | 21 | |
Number of hours required for ESOP eligibility | 1,000 | |
Minimum [Member] | Furniture, Fixtures And Equipment [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 3 years | |
Minimum [Member] | Leasehold Improvements [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Property, plant and equipment, estimated useful life, years | 3 years |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share | |||||||||||
Net income | $ 20,698 | $ 20,551 | $ 21,527 | $ 20,718 | $ 18,785 | $ 19,602 | $ 19,234 | $ 20,472 | $ 83,494 | $ 78,093 | $ 77,694 |
Income allocated to participating securities | (66) | (116) | (176) | ||||||||
Net income available to common stockholders | $ 83,428 | $ 77,977 | $ 77,518 | ||||||||
Total basic average common shares outstanding | 133,296,000 | 133,102,000 | 132,960,000 | 132,822,000 | 133,515,000 | 135,746,000 | 136,208,000 | 136,088,000 | 133,045,215 | 135,383,693 | 139,440,073 |
Effect of dilutive stock options | 131,161 | 24,810 | 1,891 | ||||||||
Total diluted average common shares outstanding | 133,493,000 | 133,251,000 | 133,031,000 | 132,911,000 | 133,533,000 | 135,763,000 | 136,246,000 | 136,116,000 | 133,176,376 | 135,408,503 | 139,441,964 |
Net EPS: | |||||||||||
Basic | $ 0.16 | $ 0.15 | $ 0.16 | $ 0.16 | $ 0.14 | $ 0.14 | $ 0.14 | $ 0.15 | $ 0.63 | $ 0.58 | $ 0.56 |
Diluted | $ 0.16 | $ 0.15 | $ 0.16 | $ 0.16 | $ 0.14 | $ 0.14 | $ 0.14 | $ 0.15 | $ 0.63 | $ 0.58 | $ 0.56 |
Antidilutive stock options, excluded from the diluted average common shares outstanding calculation | 886,417 | 1,248,744 | 2,060,748 | ||||||||
Average Common Shares Outstanding [Member] | |||||||||||
Earnings Per Share | |||||||||||
Total basic average common shares outstanding | 132,982,815 | 135,321,235 | 139,377,615 | ||||||||
Average Committed ESOP Shares Outstanding [Member] | |||||||||||
Earnings Per Share | |||||||||||
Total basic average common shares outstanding | 62,400 | 62,458 | 62,458 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Marketable Securities [Abstract] | ||
Other than temporary impairments, amount | $ 0 | $ 0 |
Securities (Amortized Cost, Est
Securities (Amortized Cost, Estimated Fair Value, and Gross Unrealized Gains and Losses of AFS and HTM Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | $ 1,100,874 | $ 1,271,122 |
Held-to-maturity Securities, Gross Unrealized Gains | 23,219 | 27,762 |
Held-to-maturity Securities, Gross Unrealized Losses | 1,226 | 3,610 |
Held-to-maturity securities, Estimated Fair Value | 1,122,867 | 1,295,274 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 517,791 | 744,708 |
Available-for-sale Securities, Gross Unrealized Gains | 9,884 | 13,797 |
Available-for-sale Securities, Gross Unrealized Losses | 374 | 334 |
Available-for-sale Securities, Estimated Fair Value | 527,301 | 758,171 |
GSE Debentures [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 346,226 | 525,376 |
Available-for-sale Securities, Gross Unrealized Gains | 815 | 1,304 |
Available-for-sale Securities, Gross Unrealized Losses | 3 | 60 |
Available-for-sale Securities, Estimated Fair Value | 347,038 | 526,620 |
MBS [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 1,067,571 | 1,233,048 |
Held-to-maturity Securities, Gross Unrealized Gains | 22,862 | 27,325 |
Held-to-maturity Securities, Gross Unrealized Losses | 1,219 | 3,590 |
Held-to-maturity securities, Estimated Fair Value | 1,089,214 | 1,256,783 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 169,442 | 217,006 |
Available-for-sale Securities, Gross Unrealized Gains | 9,069 | 12,489 |
Available-for-sale Securities, Gross Unrealized Losses | 4 | 4 |
Available-for-sale Securities, Estimated Fair Value | 178,507 | 229,491 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 2,123 | 2,186 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 367 | 270 |
Available-for-sale Securities, Estimated Fair Value | 1,756 | 1,916 |
Municipal Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 33,303 | 38,074 |
Held-to-maturity Securities, Gross Unrealized Gains | 357 | 437 |
Held-to-maturity Securities, Gross Unrealized Losses | 7 | 20 |
Held-to-maturity securities, Estimated Fair Value | $ 33,653 | 38,491 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 140 | |
Available-for-sale Securities, Gross Unrealized Gains | 4 | |
Available-for-sale Securities, Gross Unrealized Losses | 0 | |
Available-for-sale Securities, Estimated Fair Value | $ 144 |
Securities (Schedule Of Estimat
Securities (Schedule Of Estimated Fair Value And Gross Unrealized Losses Of Securities In Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | $ 24,997 | $ 39,135 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 3 | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 2,410 | 52,558 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 371 | 319 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 152,701 | 41,896 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 544 | 146 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 67,037 | 303,286 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 682 | 3,464 |
GSE Debentures [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 24,997 | 39,135 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 3 | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 0 | 49,955 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 0 | 45 |
Trust Preferred Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 1,756 | 1,916 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 367 | 270 |
MBS [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 654 | 687 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 4 | 4 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 147,930 | 38,604 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 538 | 134 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 66,646 | 302,158 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 681 | 3,456 |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 4,771 | 3,292 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 6 | 12 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 391 | 1,128 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | $ 1 | $ 8 |
Securities (Schedule Of Contrac
Securities (Schedule Of Contractual Maturities) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 517,791 | $ 744,708 |
Available-for-sale Securities, Amortized Cost | 517,791 | 744,708 |
Available-for-sale Securities, Estimated Fair Value | 527,301 | 758,171 |
Available-for-sale Securities, Estimated Fair Value | 527,301 | 758,171 |
Held-to-maturity Securities, Amortized Cost | 1,100,874 | 1,271,122 |
Held-to-maturity Securities, Amortized Cost | 1,100,874 | 1,271,122 |
Held-to-maturity Securities, Estimated Fair Value | 1,122,867 | 1,295,274 |
Held-to-maturity securities, Estimated Fair Value | 1,122,867 | 1,295,274 |
Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, One year or less, Amortized Cost | 25,040 | |
Available-for-sale Securities, One year through five years, Amortized Cost | 321,186 | |
Available-for-sale Securities, Five years through ten years, Amortized Cost | 0 | |
Available-for-sale Securities, Ten years and thereafter, Amortized Cost | 2,123 | |
Available-for-sale Securities, Amortized Cost | 348,349 | |
Available-for-sale Securities, Amortized Cost | 348,349 | |
Available-for-sale Securities, One year or less, Estimated Fair Value | 25,081 | |
Available-for-sale Securities, One year through five years, Estimated Fair Value | 321,957 | |
Available-for-sale Securities, Five years through ten years, Estimated Fair Value | 0 | |
Available-for-sale Securities, Ten years and thereafter, Estimated Fair Value | 1,756 | |
Available-for-sale Securities, Estimated Fair Value | 348,794 | |
Available-for-sale Securities, Estimated Fair Value | 348,794 | |
Held-to-maturity Securities, One year or less, Amortized Cost | 5,196 | |
Held-to-maturity Securities, One year through five years, Amortized Cost | 22,152 | |
Held-to-maturity Securities, Five years through ten years, Amortized Cost | 5,955 | |
Held-to-maturity Securities, Ten years and thereafter, Amortized Cost | 0 | |
Held-to-maturity Securities, Amortized Cost | 33,303 | |
Held-to-maturity Securities, Amortized Cost | 33,303 | |
Held-to-maturity Securities, One year or less, Estimated Fair Value | 5,217 | |
Held-to-maturity Securities, One year through five years, Estimated Fair Value | 22,346 | |
Held-to-maturity Securities, Five years through ten years, Estimated Fair Value | 6,090 | |
Held-to-maturity Securities, Ten years and thereafter, Estimated Fair Value | 0 | |
Held-to-maturity Securities, Estimated Fair Value | 33,653 | |
Held-to-maturity securities, Estimated Fair Value | 33,653 | |
MBS [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 169,442 | 217,006 |
Available-for-sale Securities, Amortized Cost | 169,442 | 217,006 |
Available-for-sale Securities, Estimated Fair Value | 178,507 | 229,491 |
Available-for-sale Securities, Estimated Fair Value | 178,507 | 229,491 |
Held-to-maturity Securities, Amortized Cost | 1,067,571 | 1,233,048 |
Held-to-maturity Securities, Amortized Cost | 1,067,571 | 1,233,048 |
Held-to-maturity Securities, Estimated Fair Value | 1,089,214 | 1,256,783 |
Held-to-maturity securities, Estimated Fair Value | $ 1,089,214 | $ 1,256,783 |
Securities (Schedule Of Taxable
Securities (Schedule Of Taxable And Non-taxable Components Of Interest Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Marketable Securities [Abstract] | |||
Taxable | $ 5,255 | $ 6,431 | $ 6,440 |
Non-taxable | 670 | 751 | 945 |
Interest income on investment securities | $ 5,925 | $ 7,182 | $ 7,385 |
Securities (Schedule Of Carryin
Securities (Schedule Of Carrying Value Of Securities Pledged As Collateral) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Marketable Securities [Abstract] | ||
Public unit deposits | $ 419,282 | $ 343,385 |
Repurchase agreements | 217,374 | 218,832 |
Federal Reserve Bank | 15,938 | 20,600 |
FHLB Borrowings | 0 | 216,607 |
Total securities pledged as collateral | $ 652,594 | $ 799,424 |
Loans Receivable And Allowanc46
Loans Receivable And Allowance For Credit Losses (Narrative) (Details) $ in Thousands | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) |
Loans Receivable [Line Items] | ||
Serviced loans for others, aggregate amount | $ 120,000 | $ 153,000 |
Escrow balances on loans serviced for others | $ 2,400 | 2,900 |
Loan-to-value ratio securing commercial real estate loans, maximum | 80.00% | |
Debt service coverage ratio for commercial real estate loans, minimum | 1.25 | |
Recorded investment of loans in process of foreclosure | $ 5,700 | |
Carrying value of residential OREO | 2,500 | |
Loans receivable | 6,958,024 | 6,625,027 |
ACL maintained for individually evaluated impaired loans | 0 | 0 |
Doubtful [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable | $ 0 | $ 0 |
Loans Receivable And Allowanc47
Loans Receivable And Allowance For Credit Losses (Summary Of Loans Receivable) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 6,949,522 | $ 6,622,728 |
Total real estate loans | 6,821,913 | 6,492,705 |
ACL | 8,540 | 9,443 |
Discounts/unearned loan fees | 24,933 | 24,213 |
Premiums/deferred costs | (41,975) | (35,955) |
Loans receivable, net | 6,958,024 | 6,625,027 |
One- to Four-Family Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 6,667,770 | 6,371,868 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 6,211,687 | 5,856,634 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 416,653 | 485,682 |
One- to Four-Family Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 39,430 | 29,552 |
Commercial Real Estate Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 154,143 | 120,837 |
Commercial Real Estate Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 43,375 | 11,523 |
Commercial Real Estate Segment [Member] | Permanent [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 110,768 | 109,314 |
Consumer Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 127,609 | 130,023 |
Consumer Segment [Member] | Home Equity [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 123,345 | 125,844 |
Consumer Segment [Member] | Other [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 4,264 | $ 4,179 |
Loans Receivable And Allowanc48
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Past Due) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 39,767 | $ 43,868 |
Financing receivable, current loans | 6,926,797 | 6,590,602 |
Financing receivable, total recorded investment | 6,966,564 | 6,634,470 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 22,713 | 27,310 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 17,054 | 16,558 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 6,685,873 | 6,384,042 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 26,079 | 26,378 |
Financing receivable, current loans | 6,240,953 | 5,869,289 |
Financing receivable, total recorded investment | 6,267,032 | 5,895,667 |
One- to Four-Family Segment [Member] | Originated [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 16,934 | 19,285 |
One- to Four-Family Segment [Member] | Originated [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 9,145 | 7,093 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 12,462 | 16,261 |
Financing receivable, current loans | 406,379 | 472,114 |
Financing receivable, total recorded investment | 418,841 | 488,375 |
One- to Four-Family Segment [Member] | Purchased [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,082 | 7,305 |
One- to Four-Family Segment [Member] | Purchased [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 7,380 | 8,956 |
Commercial Real Estate Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Financing receivable, current loans | 153,082 | 120,405 |
Financing receivable, total recorded investment | 153,082 | 120,405 |
Commercial Real Estate Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Commercial Real Estate Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Consumer Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 127,609 | 130,023 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 1,155 | 1,200 |
Financing receivable, current loans | 122,190 | 124,644 |
Financing receivable, total recorded investment | 123,345 | 125,844 |
Consumer Segment [Member] | Home Equity [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 635 | 703 |
Consumer Segment [Member] | Home Equity [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 520 | 497 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 71 | 29 |
Financing receivable, current loans | 4,193 | 4,150 |
Financing receivable, total recorded investment | 4,264 | 4,179 |
Consumer Segment [Member] | Other [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 62 | 17 |
Consumer Segment [Member] | Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 9 | $ 12 |
Loans Receivable And Allowanc49
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Nonaccrual) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 29,143 | $ 25,935 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 20,874 | 16,093 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 7,411 | 9,038 |
Commercial Real Estate Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 848 | 792 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 10 | $ 12 |
Loans Receivable And Allowanc50
Loans Receivable And Allowance For Credit Losses (Recorded Investment In Classified Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | $ 6,966,564 | $ 6,634,470 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 13,956 | 17,676 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 45,913 | 43,837 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 6,685,873 | 6,384,042 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 6,267,032 | 5,895,667 |
One- to Four-Family Segment [Member] | Originated [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 12,738 | 16,149 |
One- to Four-Family Segment [Member] | Originated [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 32,986 | 29,282 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 418,841 | 488,375 |
One- to Four-Family Segment [Member] | Purchased [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 1,156 | 1,376 |
One- to Four-Family Segment [Member] | Purchased [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 11,480 | 13,237 |
Commercial Real Estate Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 153,082 | 120,405 |
Commercial Real Estate Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 0 | 0 |
Commercial Real Estate Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 0 | 0 |
Consumer Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 127,609 | 130,023 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 123,345 | 125,844 |
Consumer Segment [Member] | Home Equity [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 54 | 151 |
Consumer Segment [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 1,431 | 1,301 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 4,264 | 4,179 |
Consumer Segment [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 8 | 0 |
Consumer Segment [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | $ 16 | $ 17 |
Loans Receivable And Allowanc51
Loans Receivable And Allowance For Credit Losses (LTV And Credit Score Information For Originated And Purchased One-To Four-Family Loans And Originated Consumer Home Equity Loans) (Details) | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 764 | 764 |
Weighted average LTV | 64.00% | 64.00% |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 765 | 765 |
Weighted average LTV | 65.00% | 65.00% |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 753 | 752 |
Weighted average LTV | 64.00% | 65.00% |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 755 | 753 |
Weighted average LTV | 20.00% | 18.00% |
Loans Receivable And Allowanc52
Loans Receivable And Allowance For Credit Losses (Troubled Debt Restructurings On Financing Receivables) (Details) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 157 | 172 | 158 |
Pre-Restructured Outstanding | $ 20,824 | $ 19,442 | $ 18,875 |
Post-Restructured Outstanding | $ 21,211 | $ 19,651 | $ 18,942 |
One- to Four-Family Segment [Member] | Originated [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 134 | 143 | 145 |
Pre-Restructured Outstanding | $ 19,793 | $ 17,811 | $ 17,721 |
Post-Restructured Outstanding | $ 20,176 | $ 18,010 | $ 17,785 |
One- to Four-Family Segment [Member] | Purchased [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 3 | 4 | 7 |
Pre-Restructured Outstanding | $ 596 | $ 1,140 | $ 1,054 |
Post-Restructured Outstanding | $ 594 | $ 1,144 | $ 1,056 |
Commercial Real Estate Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 19 | 22 | 6 |
Pre-Restructured Outstanding | $ 427 | $ 479 | $ 100 |
Post-Restructured Outstanding | $ 433 | $ 485 | $ 101 |
Consumer Segment [Member] | Other [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 1 | 3 | 0 |
Pre-Restructured Outstanding | $ 8 | $ 12 | $ 0 |
Post-Restructured Outstanding | $ 8 | $ 12 | $ 0 |
Loans Receivable And Allowanc53
Loans Receivable And Allowance For Credit Losses (Troubled Debt Restructurings On Financing Receivables That Subsequently Defaulted) (Details) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 57 | 61 | 43 |
Recorded Investment | $ 6,052 | $ 6,671 | $ 4,948 |
One- to Four-Family Segment [Member] | Originated [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 51 | 52 | 38 |
Recorded Investment | $ 5,878 | $ 5,743 | $ 4,112 |
One- to Four-Family Segment [Member] | Purchased [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 0 | 4 | 3 |
Recorded Investment | $ 0 | $ 890 | $ 780 |
Commercial Real Estate Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 0 | 0 | 0 |
Recorded Investment | $ 0 | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 6 | 4 | 2 |
Recorded Investment | $ 174 | $ 33 | $ 56 |
Consumer Segment [Member] | Other [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 0 | 1 | 0 |
Recorded Investment | $ 0 | $ 5 | $ 0 |
Loans Receivable And Allowanc54
Loans Receivable And Allowance For Credit Losses (Impaired Loans By Class, Instant Related Disclosures) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | $ 37,954 | $ 22,808 |
Recorded Investment, Allowance Recorded | 18,296 | 31,096 |
Recorded Investment | 56,250 | 53,904 |
Unpaid Principal Balance, No Related Allowance | 40,546 | 26,049 |
Unpaid Principal Balance, Allowance Recorded | 18,321 | 31,158 |
Unpaid Principal Balance | 58,867 | 57,207 |
Related ACL | 217 | 467 |
With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 217 | 467 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 25,945 | 11,169 |
Recorded Investment, Allowance Recorded | 16,092 | 26,453 |
Recorded Investment | 42,037 | 37,622 |
Unpaid Principal Balance, No Related Allowance | 26,590 | 11,857 |
Unpaid Principal Balance, Allowance Recorded | 16,140 | 26,547 |
Unpaid Principal Balance | 42,730 | 38,404 |
Related ACL | 129 | 294 |
One- to Four-Family Segment [Member] | Originated [Member] | With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
One- to Four-Family Segment [Member] | Originated [Member] | With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 129 | 294 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 10,985 | 11,035 |
Recorded Investment, Allowance Recorded | 1,650 | 3,764 |
Recorded Investment | 12,635 | 14,799 |
Unpaid Principal Balance, No Related Allowance | 12,684 | 13,315 |
Unpaid Principal Balance, Allowance Recorded | 1,627 | 3,731 |
Unpaid Principal Balance | 14,311 | 17,046 |
Related ACL | 49 | 110 |
One- to Four-Family Segment [Member] | Purchased [Member] | With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
One- to Four-Family Segment [Member] | Purchased [Member] | With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 49 | 110 |
Commercial Real Estate Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 0 | 0 |
Recorded Investment, Allowance Recorded | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance, No Related Allowance | 0 | 0 |
Unpaid Principal Balance, Allowance Recorded | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related ACL | 0 | 0 |
Commercial Real Estate Segment [Member] | With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
Commercial Real Estate Segment [Member] | With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 1,014 | 591 |
Recorded Investment, Allowance Recorded | 548 | 869 |
Recorded Investment | 1,562 | 1,460 |
Unpaid Principal Balance, No Related Allowance | 1,230 | 837 |
Unpaid Principal Balance, Allowance Recorded | 548 | 870 |
Unpaid Principal Balance | 1,778 | 1,707 |
Related ACL | 38 | 62 |
Consumer Segment [Member] | Home Equity [Member] | With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 38 | 62 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 10 | 13 |
Recorded Investment, Allowance Recorded | 6 | 10 |
Recorded Investment | 16 | 23 |
Unpaid Principal Balance, No Related Allowance | 42 | 40 |
Unpaid Principal Balance, Allowance Recorded | 6 | 10 |
Unpaid Principal Balance | 48 | 50 |
Related ACL | 1 | 1 |
Consumer Segment [Member] | Other [Member] | With no related allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | 0 | 0 |
Consumer Segment [Member] | Other [Member] | With an allowance recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related ACL | $ 1 | $ 1 |
Loans Receivable And Allowanc55
Loans Receivable And Allowance For Credit Losses (Impaired Loans By Class, Duration Related Disclosures) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | $ 24,221 | $ 23,865 | $ 27,333 |
Average Recorded Investment, Allowance Recorded | 29,995 | 30,994 | 31,092 |
Average Recorded Investment | 54,216 | 54,859 | 58,425 |
Interest Income Recognized, No Related Allowance | 778 | 686 | 661 |
Interest Income Recognized, Allowance Recorded | 1,125 | 1,155 | 1,193 |
Interest Income Recognized | 1,903 | 1,841 | 1,854 |
One- to Four-Family Segment [Member] | Originated [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | 12,558 | 12,215 | 13,455 |
Average Recorded Investment, Allowance Recorded | 26,868 | 27,224 | 28,171 |
Average Recorded Investment | 39,426 | 39,439 | 41,626 |
Interest Income Recognized, No Related Allowance | 488 | 461 | 416 |
Interest Income Recognized, Allowance Recorded | 1,033 | 1,079 | 1,117 |
Interest Income Recognized | 1,521 | 1,540 | 1,533 |
One- to Four-Family Segment [Member] | Purchased [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | 11,022 | 11,153 | 13,305 |
Average Recorded Investment, Allowance Recorded | 2,219 | 2,960 | 2,334 |
Average Recorded Investment | 13,241 | 14,113 | 15,639 |
Interest Income Recognized, No Related Allowance | 196 | 196 | 212 |
Interest Income Recognized, Allowance Recorded | 27 | 40 | 53 |
Interest Income Recognized | 223 | 236 | 265 |
Commercial Real Estate Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | 0 | 0 | 0 |
Average Recorded Investment, Allowance Recorded | 0 | 0 | 17 |
Average Recorded Investment | 0 | 0 | 17 |
Interest Income Recognized, No Related Allowance | 0 | 0 | 0 |
Interest Income Recognized, Allowance Recorded | 0 | 0 | 1 |
Interest Income Recognized | 0 | 0 | 1 |
Consumer Segment [Member] | Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | 628 | 485 | 567 |
Average Recorded Investment, Allowance Recorded | 895 | 795 | 558 |
Average Recorded Investment | 1,523 | 1,280 | 1,125 |
Interest Income Recognized, No Related Allowance | 93 | 29 | 33 |
Interest Income Recognized, Allowance Recorded | 64 | 34 | 22 |
Interest Income Recognized | 157 | 63 | 55 |
Consumer Segment [Member] | Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment, No Related Allowance | 13 | 12 | 6 |
Average Recorded Investment, Allowance Recorded | 13 | 15 | 12 |
Average Recorded Investment | 26 | 27 | 18 |
Interest Income Recognized, No Related Allowance | 1 | 0 | 0 |
Interest Income Recognized, Allowance Recorded | 1 | 2 | 0 |
Interest Income Recognized | $ 2 | $ 2 | $ 0 |
Loans Receivable And Allowanc56
Loans Receivable And Allowance For Credit Losses (Allowance For Credit Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | $ 9,443 | $ 9,227 | $ 8,822 |
Charge-offs | (630) | (735) | (1,142) |
Recoveries | 477 | 180 | 138 |
Provision for credit losses | (750) | 771 | 1,409 |
Ending Balance | 8,540 | 9,443 | 9,227 |
One- to Four-Family Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 8,414 | 8,586 | 8,257 |
Charge-offs | (542) | (663) | (1,033) |
Recoveries | 451 | 114 | 65 |
Provision for credit losses | (1,228) | 377 | 1,297 |
Ending Balance | 7,095 | 8,414 | 8,586 |
One- to Four-Family Segment [Member] | Originated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 6,980 | 6,263 | 5,771 |
Charge-offs | (200) | (435) | (380) |
Recoveries | 77 | 56 | 1 |
Provision for credit losses | (827) | 1,096 | 871 |
Ending Balance | 6,030 | 6,980 | 6,263 |
One- to Four-Family Segment [Member] | Purchased [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 1,434 | 2,323 | 2,486 |
Charge-offs | (342) | (228) | (653) |
Recoveries | 374 | 58 | 64 |
Provision for credit losses | (401) | (719) | 426 |
Ending Balance | 1,065 | 1,434 | 2,323 |
Commercial Real Estate Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 742 | 400 | 185 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision for credit losses | 466 | 342 | 215 |
Ending Balance | 1,208 | 742 | 400 |
Consumer Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 287 | 241 | 380 |
Charge-offs | (88) | (72) | (109) |
Recoveries | 26 | 66 | 73 |
Provision for credit losses | 12 | 52 | (103) |
Ending Balance | $ 237 | $ 287 | $ 241 |
Loans Receivable And Allowanc57
Loans Receivable And Allowance For Credit Losses (Summary Of Loan Portfolio Segment Disaggregated By The Company's Impairment Method) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | $ 6,924,516 | $ 6,611,662 |
Recorded investment in loans individually evaluated for impairment | 42,048 | 22,808 |
Financing receivable, total recorded investment | 6,966,564 | 6,634,470 |
ACL for loans collectively evaluated for impairment | 8,540 | 9,443 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 6,644,930 | 6,361,838 |
Recorded investment in loans individually evaluated for impairment | 40,943 | 22,204 |
Financing receivable, total recorded investment | 6,685,873 | 6,384,042 |
ACL for loans collectively evaluated for impairment | 7,095 | 8,414 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 6,237,097 | 5,884,498 |
Recorded investment in loans individually evaluated for impairment | 29,935 | 11,169 |
Financing receivable, total recorded investment | 6,267,032 | 5,895,667 |
ACL for loans collectively evaluated for impairment | 6,030 | 6,980 |
One- to Four-Family Segment [Member] | Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 407,833 | 477,340 |
Recorded investment in loans individually evaluated for impairment | 11,008 | 11,035 |
Financing receivable, total recorded investment | 418,841 | 488,375 |
ACL for loans collectively evaluated for impairment | 1,065 | 1,434 |
Commercial Real Estate Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 153,082 | 120,405 |
Recorded investment in loans individually evaluated for impairment | 0 | 0 |
Financing receivable, total recorded investment | 153,082 | 120,405 |
ACL for loans collectively evaluated for impairment | 1,208 | 742 |
Consumer Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 126,504 | 129,419 |
Recorded investment in loans individually evaluated for impairment | 1,105 | 604 |
Financing receivable, total recorded investment | 127,609 | 130,023 |
ACL for loans collectively evaluated for impairment | $ 237 | $ 287 |
Premises And Equipment, Net (Na
Premises And Equipment, Net (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Property, Plant and Equipment, Net [Abstract] | |||
Rental expense | $ 1.2 | $ 1.1 | $ 1.1 |
Premises And Equipment, Net (Su
Premises And Equipment, Net (Summary Of The Carrying Value Of Banking Premises And Equipment) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 145,355 | $ 136,714 |
Accumulated depreciation, property, plant and equipment | 62,134 | 60,904 |
Property, plant and equipment, net | 83,221 | 75,810 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 11,065 | 11,055 |
Building and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 91,700 | 82,928 |
Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 42,590 | $ 42,731 |
Premises And Equipment, Net (Sc
Premises And Equipment, Net (Schedule Of Future Minimum Rental Commitments) (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Property, Plant and Equipment, Net [Abstract] | |
2,017 | $ 1,106 |
2,018 | 1,107 |
2,019 | 993 |
2,020 | 751 |
2,021 | 655 |
Thereafter | 2,525 |
Future minimum rental commitments, total | $ 7,137 |
Low Income Housing Partnershi61
Low Income Housing Partnerships (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investments in Affordable Housing Projects [Abstract] | |||
Investment In affordable housing limited partnerships | $ 58,000 | $ 41,800 | |
Obligations related to investments in affordable housing limited partnerships | $ 27,200 | 14,600 | |
Affordable housing tax credits commitment, year to be paid | 2,018 | ||
Affordable housing other tax benefits, amount | $ 1,100 | 963 | $ 866 |
Affordable housing tax credits, amount | 4,800 | 4,300 | 3,600 |
Impairment losses from the forfeiture or ineligibility of tax credits or other circumstances, amount | $ 0 | $ 0 | $ 0 |
Deposits and Borrowed Funds (Na
Deposits and Borrowed Funds (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Noninterest-bearing deposits | $ 217,000 | $ 188,000 |
Time Deposits, $250,000 or more | 576,400 | 490,100 |
FHLB borrowings, outstanding balance | 2,372,389 | 3,270,521 |
FHLB line of credit, outstanding balance | $ 0 | 700,000 |
Expiration date for FHLB line of credit | Nov. 17, 2017 | |
FHLB advance prepayment penalty | $ 2,611 | 4,479 |
FHLB borrowings threshold percentage of regulatory assets | 40.00% | |
FHLB borrowings threshold percentage of regulatory assets, temporary increase | 55.00% | |
FHLB percentage of regulatory assets | 26.00% | |
Repurchase agreements | $ 200,000 | $ 200,000 |
Weighted average rate of repurchase agreements | 2.94% | 2.94% |
Repurchase Agreements, Description of Potential Risks | See the Securities Note for information regarding the amount of securities pledged as collateral in conjunction with repurchase agreements. Securities are delivered to the party with whom each transaction is executed and the party agrees to resell the same securities to the Bank at the maturity of the agreement. The Bank retains the right to substitute similar or like securities throughout the terms of the agreements. The repurchase agreements and collateral are subject to valuation at current market levels and the Bank may ask for the return of excess collateral or be required to post additional collateral due to changes in the market values of these items. The Bank may also be required to post additional collateral as a result of principal payments received on the securities pledged. | |
Prepayments Of FHLB Advances [Member] | ||
Prepayments of fixed-rate FHLB advances | $ 325,000 | |
Weighted average remaining term to maturity in months | 4 months | |
FHLB advance prepayment penalty | $ 3,400 | |
Prepayments Of FHLB Advances [Member] | Weighted Average [Member] | ||
Weighted average interest rate of FHLB advances | 2.61% | |
New Borrowings [Member] | ||
New fixed-rate FHLB advances | $ 325,000 | |
Weighted average remaining term to maturity in months | 53 months | |
Basis point impact of FHLB prepayment penalty | 42 | |
New Borrowings [Member] | Weighted Average [Member] | ||
Weighted average interest rate of FHLB advances | 1.66% | |
FHLB Advances [Member] | ||
FHLB borrowings, outstanding balance | $ 2,372,389 | $ 2,570,521 |
Leverage Strategy [Member] | ||
FHLB line of credit available for leverage strategy, maximum | $ 2,100,000 |
Deposits and Borrowed Funds (FH
Deposits and Borrowed Funds (FHLB Advances) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 | |
Debt [Line Items] | |||
Fixed-rate FHLB advances | $ 2,375,000 | $ 2,575,000 | |
Deferred prepayment penalty | (2,611) | (4,479) | |
FHLB advances, outstanding balance | $ 2,372,389 | $ 3,270,521 | |
Weighted Average [Member] | |||
Debt [Line Items] | |||
Weighted average contractual interest rate on FHLB advances | 2.17% | 2.09% | |
Weighted average effective interest rate on FHLB advances | [1] | 2.24% | 2.24% |
FHLB Advances [Member] | |||
Debt [Line Items] | |||
FHLB advances, outstanding balance | $ 2,372,389 | $ 2,570,521 | |
[1] | The effective interest rate includes the net impact of deferred amounts related to certain FHLB advances. |
Deposits and Borrowed Funds (Ma
Deposits and Borrowed Funds (Maturity Of Borrowed Funds and Certificates of Deposit) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Deposits and Borrowed Funds [Abstract] | ||
FHLB Advances Due in 2017 | $ 500,000 | |
FHLB Advances Due in 2018 | 375,000 | |
FHLB Advances Due in 2019 | 400,000 | |
FHLB Advances Due in 2020 | 250,000 | |
FHLB Advances Due in 2021 | 550,000 | |
FHLB Advances Due Thereafter | 300,000 | |
FHLB Advances Amount | 2,375,000 | $ 2,575,000 |
Repurchase Agreements Due in 2017 | 0 | |
Repurchase Agreements Due in 2018 | 100,000 | |
Repurchase Agreements Due in 2019 | 0 | |
Repurchase Agreements Due in 2020 | 100,000 | |
Repurchase Agreements Due in 2021 | 0 | |
Repurchase Agreements Due Thereafter | 0 | |
Repurchase Agreements Amount | 200,000 | |
Certificates of Deposit Due in 2017 | 1,172,398 | |
Certificates of Deposit Due in 2018 | 562,007 | |
Certificates of Deposit Due in 2019 | 492,691 | |
Certificates of Deposit Due in 2020 | 454,991 | |
Certificates of Deposit Due in 2021 | 143,761 | |
Certificates of Deposit Due Thereafter | 2,284 | |
Certificates of Deposit Amount | $ 2,828,132 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | |||
Effective income tax rate | 31.50% | 32.50% | 32.50% |
Valuation allowance | $ 1,804,000 | $ 1,807,000 | |
Unrecognized tax benefits | $ 0 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $ 33,298 | $ 30,079 | $ 32,137 |
Current, State | 4,677 | 4,395 | 3,215 |
Current income tax expense | 37,975 | 34,474 | 35,352 |
Deferred, Federal | 286 | 2,869 | 2,121 |
Deferred, State | 184 | 332 | (15) |
Deferred income tax expense | 470 | 3,201 | 2,106 |
Income tax expense | $ 38,445 | $ 37,675 | $ 37,458 |
Income Taxes (Differences Betwe
Income Taxes (Differences Between Effective Rates And Statutory Federal Income Tax Rate Computed On Income Before Income Tax Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal income tax expense computed at statutory Federal rate, Amount | $ 42,679 | $ 40,519 | $ 40,303 |
Federal income tax expense computed at statutory Federal rate, Percentage | 35.00% | 35.00% | 35.00% |
Increases (Decreases) In Taxes Resulting From: | |||
State taxes, net of Federal tax effect, Amount | $ 3,308 | $ 3,257 | $ 3,200 |
State taxes, net of Federal tax effect, Percentage | 2.70% | 2.80% | 2.80% |
Low income housing tax credits, Amount | $ (4,815) | $ (4,316) | $ (3,580) |
Low income housing tax credits, Percentage | (4.00%) | (3.70%) | (3.10%) |
ESOP related expenses, net, Amount | $ (1,127) | $ (1,222) | $ (1,550) |
ESOP related expenses, net, Percentage | (0.90%) | (1.10%) | (1.40%) |
Other, Amount | $ (1,600) | $ (563) | $ (915) |
Other, Percentage | (1.30%) | (0.50%) | (0.80%) |
Income tax expense | $ 38,445 | $ 37,675 | $ 37,458 |
Income tax expense, Percentage | 31.50% | 32.50% | 32.50% |
Income Taxes (Deferred Income T
Income Taxes (Deferred Income Tax Expense Results From Temporary Differences In Recognition Of Revenue And Expenses For Tax) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | |||
Premises and equipment | $ 1,593 | $ (129) | $ (388) |
ACL | 480 | (75) | (37) |
FHLB stock dividends | (1,357) | 4,083 | (832) |
Low income housing partnerships | (318) | (763) | (50) |
Capitol Federal Foundation contribution | 0 | 418 | 3,768 |
Other, net | 72 | (333) | (355) |
Deferred income tax expense | $ 470 | $ 3,201 | $ 2,106 |
Income Taxes (Components Of Net
Income Taxes (Components Of Net Deferred Income Tax (Liabilities) Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Deferred income tax assets: | ||
Salaries and employee benefits | $ 2,050 | $ 2,194 |
Low income housing partnerships | 1,763 | 1,445 |
ESOP compensation | 1,566 | 1,393 |
ACL | 896 | 1,376 |
Other | 3,498 | 3,652 |
Gross deferred income tax assets | 9,773 | 10,060 |
Valuation allowance | (1,804) | (1,807) |
Gross deferred income tax asset, net of valuation allowance | 7,969 | 8,253 |
Deferred income tax liabilities: | ||
FHLB stock dividends | 23,238 | 24,595 |
Premises and equipment | 6,091 | 4,498 |
Unrealized gain on AFS securities | 3,595 | 5,089 |
Other | 419 | 462 |
Gross deferred income tax liabilities | 33,343 | 34,644 |
Net deferred tax liabilities | $ 25,374 | $ 26,391 |
ESOP (Narrative) (Details)
ESOP (Narrative) (Details) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2016USD ($)shares | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2017shares | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||
Shares Held In Employee Stock Ownership Plan, Allocated | 165,198 | |||
Compensation expense related to the ESOP including dividends | $ | $ 3,000 | $ 3,000 | $ 3,800 | |
Portion of compensation expense related to the ESOP attributable to changes in Company stock price | $ | 522 | 384 | 362 | |
Dividends on unallocated ESOP shares in excess of debt service payments | $ | $ 813 | $ 952 | $ 1,700 | |
Forecast [Member] | ||||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||
Shares Held In Employee Stock Ownership Plan, Committed-to-be-Released | 165,198 | |||
Minimum [Member] | ||||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||
Percentage of ESOP shares participant may diversify once age requirement is met | 25.00% | |||
Required age of participant in order to diversify ESOP shares, years | 50 | |||
IPO [Member] | ||||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||
Number of shares acquired by ESOP trust | 3,024,574 | |||
Number of shares acquired by ESOP post corporate reorganization | 6,846,728 | |||
ESOP loan maturity date | Sep. 30, 2013 | |||
Corporate Reorganization [Member] | ||||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||
Number of shares acquired by ESOP trust | 4,726,000 | |||
ESOP loan maturity date | Sep. 30, 2040 |
ESOP (Summary Of Shares Held In
ESOP (Summary Of Shares Held In The ESOP Trust) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ||
Allocated ESOP shares | 4,392,371 | 4,490,885 |
Unreleased ESOP shares | 3,964,752 | 4,129,950 |
Total ESOP shares | 8,357,123 | 8,620,835 |
Fair value of unreleased ESOP shares | $ 55,784 | $ 50,055 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options outstanding at end of year, number of options | 2,031,211 | ||
Options outstanding at end of year, weighted average exercise price | $ 13.08 | ||
Options outstanding at end of year, weighted average remaining contractual life (in years) | 6 years 7 days | ||
Options exercisable at end of year, number of options | 1,824,711 | ||
Options exercisable at end of year, weighted average exercise price | $ 13.18 | ||
Options exercisable at end of year, weighted average remaining contractual life (in years) | 5 years 9 months 19 days | ||
Unvested restricted stock at end of year, number of shares | 74,525 | ||
Unvested restricted stock at end of year, weighted average grant date fair value | $ 12.50 | ||
Stock Option Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense | $ 335 | $ 618 | $ 633 |
Fair value of stock options vested during the period | 652 | 615 | 646 |
Unrecognized total future compensation cost, net of forfeitures | $ 254 | ||
Unrecognized total future compensation cost weighted average recognition period | 2 years 4 months 24 days | ||
Stock Option Plans [Member] | 2000 Stock Option Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options outstanding at end of year, number of options | 700,007 | ||
Stock Option Plans [Member] | 2012 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares of common stock reserved for future issuance | 5,907,500 | ||
Plan expiration date | Jan. 24, 2027 | ||
Number of shares available for future grants | 4,172,316 | ||
Stock Option Plans [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of options | 3 years | ||
Stock Option Plans [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of options | 5 years | ||
Restricted Stock Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense | $ 787 | 1,500 | 1,500 |
Unrecognized total future compensation cost | 724 | ||
Fair value of restricted stock vested during the period | $ 1,600 | $ 1,500 | $ 1,500 |
Unrecognized total future compensation cost weighted average recognition period | 2 years 9 months 11 days | ||
Restricted Stock Plans [Member] | 2012 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares of common stock reserved for future issuance | 2,363,000 | ||
Plan expiration date | Jan. 24, 2027 | ||
Number of shares available for future grants | 1,777,850 | ||
Restricted Stock Plans [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of restricted stock | 3 years | ||
Restricted Stock Plans [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of restricted stock | 5 years | ||
Incentive Stock Options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Contractual term of stock options | 10 years | ||
Nonqualified Stock Options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Contractual term of stock options | 15 years |
Commitments And Contingencies73
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Sep. 30, 2015 |
Commitments and Contingencies Disclosure [Abstract] | ||
Unadvanced home equity lines of credit | $ 262.8 | $ 259.7 |
Commitments And Contingencies74
Commitments And Contingencies (Commitments Outstanding To Originate, Purchase, Or Participate In Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Originate fixed-rate | $ 68,047 | $ 54,555 |
Originate adjustable-rate | 12,257 | 16,164 |
Purchase/participate fixed-rate | 138,792 | 128,334 |
Purchase/participate adjustable-rate | 18,653 | 13,785 |
Commitments outstanding to originate, purchase, or participate in loans | $ 237,749 | $ 212,838 |
Regulatory Capital Requiremen75
Regulatory Capital Requirements Regulatory Capital Requirements (Narrative) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Regulatory Capital Requirements [Abstract] | |
Liquidation account balance | $ 187 |
Capital Conservation Buffer, Annual Increase | 0.625% |
Capital Conservation Buffer, Fully Phased-In Percentage | 2.50% |
Regulatory Capital Requiremen76
Regulatory Capital Requirements (Summary Of Capital And Total Risk-Based Capital Ratios) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Capitol Federal Financial Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage ratio, Actual Amount | $ 1,387,049 | $ 1,407,852 |
Tier 1 leverage ratio, Actual Ratio | 12.30% | 12.60% |
Tier 1 leverage ratio, For Capital Adequacy Purposes, Amount | $ 452,248 | $ 448,003 |
Tier 1 leverage ratio, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
CET1 capital ratio, Actual Amount | $ 1,387,049 | $ 1,407,852 |
CET1 capital ratio, Actual Ratio | 32.00% | 33.40% |
CET1 capital ratio, For Capital Adequacy Purposes, Amount | $ 195,094 | $ 189,946 |
CET1 capital ratio, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Tier 1 capital ratio, Actual Amount | $ 1,387,049 | $ 1,407,852 |
Tier 1 capital ratio, Actual Ratio | 32.00% | 33.40% |
Tier 1 capital ratio, For Capital Adequacy Purposes, Amount | $ 260,126 | $ 253,262 |
Tier 1 capital ratio, For Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Total capital ratio, Actual Amount | $ 1,395,589 | $ 1,417,295 |
Total capital ratio, Actual Ratio | 32.20% | 33.60% |
Total capital ratio, For Capital Adequacy Purposes, Amount | $ 346,835 | $ 337,683 |
Total capital ratio, For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Capitol Federal Savings Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage ratio, Actual Amount | $ 1,234,912 | $ 1,266,054 |
Tier 1 leverage ratio, Actual Ratio | 10.90% | 11.30% |
Tier 1 leverage ratio, For Capital Adequacy Purposes, Amount | $ 452,339 | $ 447,986 |
Tier 1 leverage ratio, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 leverage ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 565,424 | $ 559,982 |
Tier 1 leverage ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
CET1 capital ratio, Actual Amount | $ 1,234,912 | $ 1,266,054 |
CET1 capital ratio, Actual Ratio | 28.50% | 30.00% |
CET1 capital ratio, For Capital Adequacy Purposes, Amount | $ 195,080 | $ 189,663 |
CET1 capital ratio, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
CET1 capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 281,783 | $ 273,958 |
CET1 capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Tier 1 capital ratio, Actual Amount | $ 1,234,912 | $ 1,266,054 |
Tier 1 capital ratio, Actual Ratio | 28.50% | 30.00% |
Tier 1 capital ratio, For Capital Adequacy Purposes, Amount | $ 260,107 | $ 252,885 |
Tier 1 capital ratio, For Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Tier 1 capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 346,809 | $ 337,179 |
Tier 1 capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Total capital ratio, Actual Amount | $ 1,243,452 | $ 1,275,497 |
Total capital ratio, Actual Ratio | 28.70% | 30.30% |
Total capital ratio, For Capital Adequacy Purposes, Amount | $ 346,809 | $ 337,179 |
Total capital ratio, For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 433,512 | $ 421,474 |
Total capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Fair Value Of Financial Instr77
Fair Value Of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Proceeds from principal repayments | $ 326,814 | $ 234,794 | $ 349,210 |
Loans individually evaluated for impairment | 41,995 | 22,762 | |
ACL maintained for individually evaluated impaired loans | 0 | 0 | |
OREO | $ 3,734 | 4,333 | |
Loans Receivable [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Estimated selling costs | 10.00% | ||
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Estimated selling costs | 10.00% | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans individually evaluated for impairment | $ 0 | 0 | |
OREO | 0 | 0 | |
Estimated fair value of deposits | 2,340,000 | 2,200,000 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans individually evaluated for impairment | 0 | 0 | |
OREO | 0 | 0 | |
Estimated fair value of deposits | 2,870,000 | 2,670,000 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Proceeds from principal repayments | 97 | 400 | 150 |
Increases in net unrealized losses included in OCI | (61) | (45) | $ (16) |
Loans individually evaluated for impairment | 41,995 | 22,762 | |
OREO | $ 3,734 | $ 4,333 |
Fair Value Of Financial Instr78
Fair Value Of Financial Instruments (Schedule Of Fair Value Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | $ 527,301 | $ 758,171 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 525,545 | 756,255 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 1,756 | 1,916 |
GSE Debentures [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 347,038 | 526,620 |
GSE Debentures [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
GSE Debentures [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 347,038 | 526,620 |
GSE Debentures [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
MBS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 178,507 | 229,491 |
MBS [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
MBS [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 178,507 | 229,491 |
MBS [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 144 | |
Municipal Bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | |
Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 144 | |
Municipal Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | |
Trust Preferred Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 1,756 | 1,916 |
Trust Preferred Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Trust Preferred Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Trust Preferred Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | $ 1,756 | $ 1,916 |
Fair Value Of Financial Instr79
Fair Value Of Financial Instruments (Schedule Of Fair Value Assets Measured On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | $ 41,995 | $ 22,762 |
OREO | 3,734 | 4,333 |
Total assets measured at fair value on a non-recurring basis, carrying value | 45,729 | 27,095 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | 0 | 0 |
OREO | 0 | 0 |
Total assets measured at fair value on a non-recurring basis, carrying value | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | 0 | 0 |
OREO | 0 | 0 |
Total assets measured at fair value on a non-recurring basis, carrying value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | 41,995 | 22,762 |
OREO | 3,734 | 4,333 |
Total assets measured at fair value on a non-recurring basis, carrying value | $ 45,729 | $ 27,095 |
Fair Value Of Financial Instr80
Fair Value Of Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 |
Assets: | ||
AFS securities | $ 527,301 | $ 758,171 |
HTM securities | 1,122,867 | 1,295,274 |
Carrying Amount [Member] | ||
Assets: | ||
Cash and cash equivalents | 281,764 | 772,632 |
AFS securities | 527,301 | 758,171 |
HTM securities | 1,100,874 | 1,271,122 |
Loans receivable | 6,958,024 | 6,625,027 |
FHLB stock | 109,970 | 150,543 |
Liabilities: | ||
Deposits | 5,164,018 | 4,832,520 |
FHLB borrowings | 2,372,389 | 3,270,521 |
Repurchase agreements | 200,000 | 200,000 |
Estimated Fair Value [Member] | ||
Assets: | ||
Cash and cash equivalents | 281,764 | 772,632 |
AFS securities | 527,301 | 758,171 |
HTM securities | 1,122,867 | 1,295,274 |
Loans receivable | 7,292,971 | 6,870,176 |
FHLB stock | 109,970 | 150,543 |
Liabilities: | ||
Deposits | 5,204,251 | 4,869,312 |
FHLB borrowings | 2,434,151 | 3,339,650 |
Repurchase agreements | $ 207,303 | $ 209,807 |
Selected Quarterly Financial 81
Selected Quarterly Financial Data (Summary Of Quarterly Data) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Total interest and dividend income | $ 75,595 | $ 75,527 | $ 75,632 | $ 74,359 | $ 74,411 | $ 74,174 | $ 73,877 | $ 74,900 | $ 301,113 | $ 297,362 | $ 290,246 |
Net interest and dividend income | 47,732 | 47,930 | 48,538 | 47,982 | 47,940 | 47,013 | 46,779 | 48,036 | 192,182 | 189,768 | 184,143 |
Provision for credit losses | (750) | 0 | 0 | 0 | 0 | 323 | 275 | 173 | (750) | 771 | 1,409 |
Net income | $ 20,698 | $ 20,551 | $ 21,527 | $ 20,718 | $ 18,785 | $ 19,602 | $ 19,234 | $ 20,472 | $ 83,494 | $ 78,093 | $ 77,694 |
Basic EPS | $ 0.16 | $ 0.15 | $ 0.16 | $ 0.16 | $ 0.14 | $ 0.14 | $ 0.14 | $ 0.15 | $ 0.63 | $ 0.58 | $ 0.56 |
Diluted EPS | 0.16 | 0.15 | 0.16 | 0.16 | 0.14 | 0.14 | 0.14 | 0.15 | 0.63 | 0.58 | 0.56 |
Dividends declared per share | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.085 | $ 0.335 | $ 0.84 | $ 0.84 | $ 0.98 |
Average number of basic shares outstanding | 133,296,000 | 133,102,000 | 132,960,000 | 132,822,000 | 133,515,000 | 135,746,000 | 136,208,000 | 136,088,000 | 133,045,215 | 135,383,693 | 139,440,073 |
Average number of diluted shares outstanding | 133,493,000 | 133,251,000 | 133,031,000 | 132,911,000 | 133,533,000 | 135,763,000 | 136,246,000 | 136,116,000 | 133,176,376 | 135,408,503 | 139,441,964 |
Parent Company Financial Info82
Parent Company Financial Information (Parent Company Only) (Schedule Of Balance Sheets) (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
ASSETS: | ||||
Cash and cash equivalents | $ 281,764 | $ 772,632 | $ 810,840 | $ 113,886 |
Other assets | 206,093 | 189,785 | ||
Income taxes receivable, net | 0 | 1,071 | ||
TOTAL ASSETS | 9,267,247 | 9,844,161 | ||
LIABILITIES: | ||||
Income taxes payable, net | 310 | 0 | ||
Accounts payable and accrued expenses | 49,549 | 36,685 | ||
Deferred income tax liabilities, net | 25,374 | 26,391 | ||
Total liabilities | 7,874,283 | 8,427,935 | ||
STOCKHOLDERS' EQUITY: | ||||
Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding | 0 | 0 | ||
Common stock, $.01 par value; 1,400,000,000 shares authorized; 137,486,172 and 137,106,822 shares issued and outstanding as of September 30, 2016 and 2015, respectively | 1,375 | 1,371 | ||
Additional paid-in capital | 1,156,855 | 1,151,041 | ||
Unearned compensation - ESOP | (39,647) | (41,299) | ||
Retained earnings | 268,466 | 296,739 | ||
AOCI, net of tax | 5,915 | 8,374 | ||
Total stockholders' equity | 1,392,964 | 1,416,226 | 1,492,882 | 1,632,126 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 9,267,247 | $ 9,844,161 | ||
Preferred stock, par value | $ 0.01 | $ 0.01 | ||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | ||
Preferred stock, shares issued | 0 | 0 | ||
Preferred stock, shares outstanding | 0 | 0 | ||
Common stock, par value | $ 0.01 | $ 0.01 | ||
Common stock, shares authorized | 1,400,000,000 | 1,400,000,000 | ||
Common stock, shares issued | 137,486,172 | 137,106,822 | ||
Common stock, shares outstanding | 137,486,172 | 137,106,822 | ||
Capitol Federal Financial Inc [Member] | ||||
ASSETS: | ||||
Cash and cash equivalents | $ 108,197 | $ 96,171 | $ 139,540 | $ 207,012 |
Investment in the Bank | 1,240,827 | 1,274,429 | ||
Note receivable - ESOP | 43,790 | 44,984 | ||
Other assets | 389 | 420 | ||
Income taxes receivable, net | 0 | 318 | ||
TOTAL ASSETS | 1,393,203 | 1,416,322 | ||
LIABILITIES: | ||||
Income taxes payable, net | 128 | 0 | ||
Accounts payable and accrued expenses | 74 | 60 | ||
Deferred income tax liabilities, net | 37 | 36 | ||
Total liabilities | 239 | 96 | ||
STOCKHOLDERS' EQUITY: | ||||
Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding | 0 | 0 | ||
Common stock, $.01 par value; 1,400,000,000 shares authorized; 137,486,172 and 137,106,822 shares issued and outstanding as of September 30, 2016 and 2015, respectively | 1,375 | 1,371 | ||
Additional paid-in capital | 1,156,855 | 1,151,041 | ||
Unearned compensation - ESOP | (39,647) | (41,299) | ||
Retained earnings | 268,466 | 296,739 | ||
AOCI, net of tax | 5,915 | 8,374 | ||
Total stockholders' equity | 1,392,964 | 1,416,226 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,393,203 | $ 1,416,322 | ||
Preferred stock, par value | $ 0.01 | $ 0.01 | ||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | ||
Preferred stock, shares issued | 0 | 0 | ||
Preferred stock, shares outstanding | 0 | 0 | ||
Common stock, par value | $ 0.01 | $ 0.01 | ||
Common stock, shares authorized | 1,400,000,000 | 1,400,000,000 | ||
Common stock, shares issued | 137,486,172 | 137,106,822 | ||
Common stock, shares outstanding | 137,486,172 | 137,106,822 |
Parent Company Financial Info83
Parent Company Financial Information (Parent Company Only) (Schedule Of Statements Of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST AND DIVIDEND INCOME: | |||||||||||
Total interest and dividend income | $ 75,595 | $ 75,527 | $ 75,632 | $ 74,359 | $ 74,411 | $ 74,174 | $ 73,877 | $ 74,900 | $ 301,113 | $ 297,362 | $ 290,246 |
INTEREST EXPENSE | 108,931 | 107,594 | 106,103 | ||||||||
NET INTEREST AND DIVIDEND INCOME | 47,732 | 47,930 | 48,538 | 47,982 | 47,940 | 47,013 | 46,779 | 48,036 | 192,182 | 189,768 | 184,143 |
NON-INTEREST INCOME | 5,057 | 5,093 | 6,025 | ||||||||
NON-INTEREST EXPENSE: | |||||||||||
Salaries and employee benefits | 42,378 | 43,309 | 43,757 | ||||||||
Regulatory and outside services | 5,645 | 5,347 | 5,572 | ||||||||
Other non-interest expense | 3,384 | 3,290 | 2,939 | ||||||||
Total non-interest expense | 94,305 | 94,369 | 90,537 | ||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY | 121,939 | 115,768 | 115,152 | ||||||||
INCOME TAX EXPENSE | 38,445 | 37,675 | 37,458 | ||||||||
NET INCOME | $ 20,698 | $ 20,551 | $ 21,527 | $ 20,718 | $ 18,785 | $ 19,602 | $ 19,234 | $ 20,472 | 83,494 | 78,093 | 77,694 |
Capitol Federal Financial Inc [Member] | |||||||||||
INTEREST AND DIVIDEND INCOME: | |||||||||||
Dividend income from the Bank | 117,513 | 115,359 | 145,276 | ||||||||
Interest income from other investments | 1,725 | 1,835 | 2,004 | ||||||||
Total interest and dividend income | 119,238 | 117,194 | 147,280 | ||||||||
NON-INTEREST EXPENSE: | |||||||||||
Salaries and employee benefits | 827 | 835 | 774 | ||||||||
Regulatory and outside services | 261 | 243 | 248 | ||||||||
Other non-interest expense | 558 | 517 | 606 | ||||||||
Total non-interest expense | 1,646 | 1,595 | 1,628 | ||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY | 117,592 | 115,599 | 145,652 | ||||||||
INCOME TAX EXPENSE | 28 | 84 | 132 | ||||||||
INCOME BEFORE EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY | 117,564 | 115,515 | 145,520 | ||||||||
EQUITY IN EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY | (34,070) | (37,422) | (67,826) | ||||||||
NET INCOME | $ 83,494 | $ 78,093 | $ 77,694 |
Parent Company Financial Info84
Parent Company Financial Information (Parent Company Only) (Schedule Of Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ 20,698 | $ 20,551 | $ 21,527 | $ 20,718 | $ 18,785 | $ 19,602 | $ 19,234 | $ 20,472 | $ 83,494 | $ 78,093 | $ 77,694 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation of equipment | 7,141 | 6,844 | 6,316 | ||||||||
Provision for deferred income taxes | 470 | 3,201 | 2,106 | ||||||||
Changes in: | |||||||||||
Other assets | 1,807 | 3,878 | 1,606 | ||||||||
Accounts payable and accrued expenses | (6,840) | (6,215) | (8,184) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Dividends paid | (111,767) | (114,162) | (138,172) | ||||||||
Repurchase of common stock | 0 | (50,034) | (79,633) | ||||||||
Stock options exercised | 4,070 | 267 | 458 | ||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (490,868) | (38,208) | 696,954 | ||||||||
CASH AND CASH EQUIVALENTS: | |||||||||||
Beginning of year | 772,632 | 810,840 | 772,632 | 810,840 | 113,886 | ||||||
End of year | 281,764 | 772,632 | 281,764 | 772,632 | 810,840 | ||||||
Capitol Federal Financial Inc [Member] | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | 83,494 | 78,093 | 77,694 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in excess of distribution over earnings of subsidiary | 34,070 | 37,422 | 67,826 | ||||||||
Depreciation of equipment | 30 | 30 | 2 | ||||||||
Provision for deferred income taxes | 2 | 428 | 3,768 | ||||||||
Changes in: | |||||||||||
Other assets | 1 | 35 | 166 | ||||||||
Income taxes receivable/payable | 445 | 3,300 | (562) | ||||||||
Accounts payable and accrued expenses | 14 | 1 | (12) | ||||||||
Net cash flows provided by operating activities | 118,056 | 119,309 | 148,882 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Principal collected on notes receivable from ESOP | 1,194 | 1,156 | 1,120 | ||||||||
Purchases of equipment | 0 | 0 | (370) | ||||||||
Net cash flows provided by investing activities | 1,194 | 1,156 | 750 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Net payment from subsidiary related to restricted stock awards | 473 | 95 | 243 | ||||||||
Dividends paid | (111,767) | (114,162) | (138,172) | ||||||||
Repurchase of common stock | 0 | (50,034) | (79,633) | ||||||||
Stock options exercised | 4,070 | 267 | 458 | ||||||||
Net cash flows used in financing activities | (107,224) | (163,834) | (217,104) | ||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 12,026 | (43,369) | (67,472) | ||||||||
CASH AND CASH EQUIVALENTS: | |||||||||||
Beginning of year | $ 96,171 | $ 139,540 | 96,171 | 139,540 | 207,012 | ||||||
End of year | $ 108,197 | $ 96,171 | $ 108,197 | $ 96,171 | $ 139,540 |